(TUFS) Technology Upgradation Fund Scheme meant fundamentally for “The Textile industry Modernization & Technology Upgradation”
-Technology-Upgradation-Fund-Scheme-meant-fundamentally--for-The-Textile-industry-Modernization-&-Technology-Upgradation_large.jpg)
17 December 2021, Mumbai:
The Ministry of Textiles had initiated a major intervention namely, Technology Upgradation Fund Scheme (TUFS) in 1999 as a credit linked subsidy scheme intended for modernization and technology upgradation of the textile industry in the country.
The scheme has been implemented in various versions and the ongoing version of Amended TUFS (ATUFS) to be implemented up to March 2022 was launched in 2016 with an upper ceiling of subsidy for the individual entities (Rs.30 crore for Garmenting, Technical Textiles, and Rs.20 crore for other segments), to ensure better targeting of MSME units.
In addition, schemes such as National Technical Textile Mission (NTTM), Powertex India, Integrated Processing Development Scheme (IPDS), Scheme for Integrated Textile Parks (SITP), Scheme for Incubation in Apparel Manufacturing (SIAM), Pradhan Mantri Mega Integrated Textile Region & Apparel Park (PM-MITRA), sectoral schemes for traditional sectors viz. silk, jute, handloom, and handicraft, etc. have been launched to support the textile industry to achieve technology advancement, innovation, and modern infrastructure.
The initiatives of the Government have helped in increasing textile manufacturing by building the modern manufacturing infrastructure, up-gradation of technology, fostering innovation, enhancing skills and traditional strengths in the textile sector including small businesses.
This information was given by the Minister of State for Textiles Smt. Darshana Jardosh in a written reply in the Rajya Sabha on 17-12-2021.
PIB (The news article has not been edited by DFU Publications staff)
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
