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SIMA thanks Textiles Minister for releasing TUFS subsidy
23
Jan '14
Technology Upgradation Fund Scheme (TUFS) is a blue chip programme of the Ministry of Textiles launched with effect from 1st April 1999 and attracted over Rs.2.5 lakh crores investments for capacity expansion and modernization across the value chain of the textile industry. 

The scheme has made the Indian cotton textile industry competitive in the international market particularly, the spinning sector has become most efficient and cost effective in the international market.  During the last few years there has been lot of issues relating to TUF scheme making many textile mills await for claiming their subsidy. 

The Southern India Mills’ Association (SIMA) and Confederation of Indian Textile Industry (CITI) have been constantly representing to the Central Government to address various issues relating to TUFS. 

The Hon’ble Union Textile Minister has cleared the TUF subsidy for the quarter ending September 2013 and also constituted a Committee for considering the pending cases of TUFS consequent to the meeting a high level delegation from SIMA consisting of SIMA Chairman, Mr.T.Rajkumar, Deputy Chairman, Mr.M.Senthilkumar, Past Chairman of SIMA & CITI, Mr.S.V.Arumugam, SIMA Committee Member Mr.Ashwin Chandran and SIMA Secretary General, Dr K Selvaraju.

Mr.T.Rajkumar, Chairman, SIMA has thanked the Hon’ble Union Textile Minister for taking proactive measures to address the various TUFS issues which have been pending for the last few years. 

SIMA Chairman has thanked the Hon’ble Minister for releasing the TUF subsidy for the quarter ending September 2013 in spite of funds constraints.  He has stated that the subsidy would ease the financial position of the mills enabling them to procure cotton during the peak season. He has appealed to the Hon’ble Minister to get additional allocation so as to make all the beneficiaries to get the subsidy in full.

SIMA Chief has also stated that there were many pending cases during the last two years and the government has been often collecting data.  He has stated that there were List-I and List-II pending cases consisting of mills availed partial benefit and also mills not availed any benefit mainly due to the mistakes committed by the lending agencies (banks). 

Mr.Rajkumar stated that CITI and SIMA made continuous and constant efforts and consequently the Hon’ble Minister has released the funds for the approved pending cases for the List-I and List-II immediately after assuming charge. 

He has added that there were many other cases including several left out cases under List-II, textile projects awaiting for UID under restructured TUF Scheme due to sectoral cap and also several other cases. 

He has stated that SIMA delegation met the Hon’ble Minister and the government officials and made an appeal to constitute a Committee and consider all the pending and left-out cases of TUF Scheme for which the Hon’ble Union Textile Minister immediately responded positively and is in the process of taking necessary steps.  SIMA Chairman has stated that the Committee would finalize the list in 10 days and process the same for the approval of the Cabinet and allocation of necessary funds.

Southern India Mills' Association (SIMA)


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