Web Exclusive | June 2019
FIASWI urges govt to expedite TUF scheme
The Federation of Indian Art Silk Weaving Industry (FIASWI) has requested the ministry of textile to expedite financial assistance to weaving units in Surat under Technological Upgradation Fund Scheme (TUFS).
“More than 1,500 such applications are pending to avail support from TUFS. Delay in release of funds under TUFS is hampering expansion plans of these units, which could generate thousands of jobs,” says Bharat Gandhi, Chairman of FISWI, adding that the Centre has reduced subsidy under the scheme from 30 per cent to 10 per cent, which should again be restored to 30 per cent.
There are 22,000 weaving units in Surat with more than 4.50 lakh power-looms. These units are providing employment to more than 2.50 lakh people in Surat and the surrounding areas. Most of these units are MSMEs, and are facing issues related to TUFS scheme. FIASWI has also raised concern over high rejection rates of applications under TUFS.