Amended Technology Upgradation Fund Scheme for Textiles industry
NDA govt. has approved the introduction of “Amended Technology Upgradation Fund Scheme (ATUFS)” in place of the existing Revised Restructured Technology Upgradation Fund Scheme (RR-TUFS),for technology upgradation of the textiles industry, with effect from the date of notification of the scheme.
The new scheme specifically targets:
- Employment generation and export by encouraging apparel and garment industry, which will provide employment to women in particular and increase India’s share inglobal exports.
- Promotion of Technical Textiles, a sunrise sector, for export and employment
- Promoting conversion of existing looms to better technology looms for improvement in quality and productivity
- Encouraging better quality in processing industry and checking need for import of fabrics by the garment sector.
The amended scheme would give a boost to “Make in India” in the textiles sector; it is expected to attract investment to the tune of one lakh crore rupees, and create over 30 lakh jobs.