Amended TUFS is so unattractive that the applicants have withdrawn their applications: SGCCI

Surat, July 26 (KNN) Surat which a hub of largest man-made fabric (MMF) with 25000 poweloom units out of total 40000 units across the country feels that the Amended Technology Upgradation Fund Scheme (A-TUFS) announced by the ministry of textiles on January 13, 2016, is unattractive.

Talking to KNN, the President of Southern Gujarat Chamber of Commerce and Industry, B.S. Agarwal said “We have submitted a memorandum to textile commissioner Dr Kavita Gupta demanding restoration of 30% subsidy in A-TUFS for the success of Make in India initiative."

He said that technology upgradation in Powerloom sector is yet to be done in a large extent. There are around only 40000 looms in the country in which Surat alone has 25000 .

“Until or unless we won’t modernise the weaving sector, we can’t produce good quality cloth for export purpose.  It is only possible when good subsidy will be provided”, he demanded.

He informed that SGCCI is also going to submit an another detailed memorandum to the textile minister Smriti Irani for the growth of Powerloom sector and development of processing sector 

“We did not get any assurance from the textile commissioner”, said President

He stated that there was an increase in investment under the Restructured TUFS and Revised Restructured TUFS by 20% and 30% respectively. However, A-TUFS policy is so unattractive that seven applicants whose proposals were sanctioned by the ministry have withdrawn their applications to install shuttle-less powerloom machines. (KNN Bureau)