Tex Matters | September 2015
TUFS: Miles to go before tapping full potential
The Technology Upgradation Fund Scheme (TUFS), a flagship scheme of the Ministry of Textiles (MOT), was introduced in 1999 to catalyse investment in all the sub sectors of textiles industry for technology upgradation of the machinery by way of interest reimbursement. The scheme is being implemented through specified lending agencies. The textile industry has been facing issues like non-allocation of around Rs 3,000 crore to meet pending cases under TUFS, which include committed liability, left-out cases and blackout period.
The scheme was modified from time to time and last notified vide Ministry of Textiles´ Resolution No 6/19/2013 -TUFS dated 04.10.2013 containing exhaustive guidelines covering the list of eligible machineries/equipments, details of subsidy benefits, list of lending agencies along with various formats prescribed, etc. (Copy is available on the website of the Office of Textile Commissioner, Mumbai - http://www.txcindia.gov.in/tufs_home/tufs_home.htm).
The Indian Textile Journal wants to feel the pulse of a cross-section of textile industry about the TUFS.
Here are excerpts from some opinions: