Home / Knowledge / News / Textiles / 'Refurbished TUFs likely soon' – Textile Commissioner
'Refurbished TUFs likely soon' – Textile Commissioner
18
Mar '11
Mr AB Joshi
Mr AB Joshi
Termination of the Technology Upgradation Fund (TUF) Scheme in June last year, severely hit the large as well as the medium scale units in the textile sector. However, it is expected that the scheme aimed at up-gradation of the textile units in the sector may soon be restored in a renewed form.

Textile Commissioner, A B Joshi revealed that the Scheme was discontinued for the sake of reviewing the present structure, and that the Government is expected to restore the scheme, shortly.

He said this while addressing major industry players at a seminar. Discontinuation of the fund badly hit many of the textile units, and thus the Government was called upon to reintroduce the same.

Further, while the industry was already under distress as the issue was not taken up in the current budget, an excise duty of 10 percent was imposed on branded readymade garments and made-ups by the Finance Ministry, to add to the duress.

The proposal of excise duty faced criticism even from other experts who claimed that, such a move would prove detrimental for the industry and may even affect the sector's hiring ability. An expert even compared the proposed tax to introduction of licence raj in the sector.

Mr Joshi said that, they have updated the government regarding the industry concerns, and will try their best to persuade the government to review the proposal in the best interest of the industry. Further, he even added that some counterbalancing measures would be taken soon.

Fibre2fashion News Desk - India


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search