Technology up gradation is not priority but export competitiveness is: Garment Industry
Updated: Dec 31, 2015 01:30:20pm
New Delhi Dec 31 (KNN) Technology upgradation is not the priority but increasing export competitiveness is in the wake of falling exports, said garment industry reaction to the Cabinet's decision to approve the Amended Technology Upgradation Fund Scheme (ATUFS) for the textile industry.
However the Garment industry does not seem to be happy with the decision as they said, “It is unfortunate that it is not going to benefit the Garment industry.”
Managing Director of Neetee clothing Animesh Saxena told KNN that the decision is not going to help garment sector but the Textile Industry only, which is unfortunate.
He said, “The problems of the garment industries are different which need to be sought out to remain competitive in the global market.”
Technology upgradation is not the priority but export competitiveness is on the top as export market is down, he added.
Meanwhile, hailing the move, Federation of Indian Chambers of Commerce & Industry (FICCI) said, “The approval has come as a great relief to the industry especially when the exports were declining in textile and apparel sector.
Shishir Jaipuria, Chairman, FICCI Textiles and Technical Textiles Committee, said that the focus on employment generation and export under the new TUFS by encouraging apparel and garment industry and promotion of technical textile sector, is indeed a welcome step which will help in furthering the cause of Make in India.
He said that the industry was earlier apprehensive that under the current review of the TUFS term loans already sanctioned may get considered in the new scheme that would have affected the projects in pipeline.
The Technology Upgradation Fund Scheme was introduced by the Government in 1999 to facilitate new and appropriate technology for making the textile industry globally competitive and to reduce the capital cost for the textile industry. A sum of Rs. 21,347 crore has been provided as assistance to the industry during 1999 – 2015. It has led to investments worth Rs. 2, 71,480 crore, and created job opportunities for nearly 48 lakh people. (KNN Bureau)
However the Garment industry does not seem to be happy with the decision as they said, “It is unfortunate that it is not going to benefit the Garment industry.”
Managing Director of Neetee clothing Animesh Saxena told KNN that the decision is not going to help garment sector but the Textile Industry only, which is unfortunate.
He said, “The problems of the garment industries are different which need to be sought out to remain competitive in the global market.”
Technology upgradation is not the priority but export competitiveness is on the top as export market is down, he added.
Meanwhile, hailing the move, Federation of Indian Chambers of Commerce & Industry (FICCI) said, “The approval has come as a great relief to the industry especially when the exports were declining in textile and apparel sector.
Shishir Jaipuria, Chairman, FICCI Textiles and Technical Textiles Committee, said that the focus on employment generation and export under the new TUFS by encouraging apparel and garment industry and promotion of technical textile sector, is indeed a welcome step which will help in furthering the cause of Make in India.
He said that the industry was earlier apprehensive that under the current review of the TUFS term loans already sanctioned may get considered in the new scheme that would have affected the projects in pipeline.
The Technology Upgradation Fund Scheme was introduced by the Government in 1999 to facilitate new and appropriate technology for making the textile industry globally competitive and to reduce the capital cost for the textile industry. A sum of Rs. 21,347 crore has been provided as assistance to the industry during 1999 – 2015. It has led to investments worth Rs. 2, 71,480 crore, and created job opportunities for nearly 48 lakh people. (KNN Bureau)
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