Home / Knowledge / News / Apparel/Garments / SIMA hails ATUFS guidelines
SIMA hails ATUFS guidelines
07
Mar '16
The Southern India Mills' Association (SIMA) has welcomed the various salient features of Amended Technology Upgradation Fund Scheme (TUFS) extending 15 per cent capital subsidy subject to a maximum of Rs 30 crores for garmenting, technical textiles and composite units with garmenting or technical textiles and also 10 per cent capital subsidy for all the weaving and processing machines subject to maximum of Rs 20 crores.

Earlier this week, the Textiles ministry issued the guidelines of the Amended Technology Upgradation Fund Scheme's (ATUFS) financial and operational parameters and implementation mechanism for implementation period from January 13, 2016 to December 31, 2022.

In a press release, SIMA Chairman M. Senthilkumar thanked the Textiles Ministry of Textiles for considering the various suggestions given by the Association in framing the guidelines for the ATUFS. He said the scheme would provide credit linked capital investment subsidy and facilitate augmenting of investment, productivity, quality, employment, exports along with import substitution in the textile industry.

He also said that the Ministry of Textiles has developed an industry-friendly software viz., i-ATUFS which would facilitate the beneficiary to have transparency and tracking facility. Senthilkumar added that this software would come as a complete solution for the various problems encountered by the lending agencies, the Ministry and the beneficiaries.

He also thanked Textiles Minister Santosh Gangwar for considering the plea of the Association and giving an opportunity for all the applicants, who are waiting for allocation of UIDs since September 2014 be eligible under RR-TUFS, the release said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Textiles | On 17th Apr 2021

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Fibre2Fashion, the online platform for the global...

Pic: Shutterstock

Textiles | On 17th Apr 2021

China's economy grows 18.3% in Q1 2021

Powered by a strong domestic and foreign demand, China's economy grew ...

Pic: Shutterstock

Retail | On 17th Apr 2021

US retail sales saw strong rebound in March: NRF

As government cheques fattened consumers’ bank accounts and more...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Sandra Sequeira,

Sandra Sequeira

The JD Institute of Fashion Technology is the educational division of JD...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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


April 2021

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


Advanced Search