ATUFS amended to boost textile industry

ATUFS amended to boost textile industry

The Amended Textile Upgradation Fund Scheme (ATUFS) would give a boost to “Make in India” and “Zero Effect and Zero Defect” in manufacturing in the textiles sector

The Ministry of Textiles has issued a Revised Resolution of “Amended Technology Upgradation Fund Scheme

(ATUFS)” vide Resolution dated August 2, 2018. The Ministry of Textiles had notified the Amended TUFS

(ATUFS) dated January 13, 2016. In accordance to the said Resolution, the Ministry had laid down certain

Guidelines of ATUFS, ie financial and operational parameters and implementation mechanism for ATUFS during

its implementation period from January 13, 2016 to March 31, 2022.

The amended scheme would give a boost to “Make in India” and “Zero Effect and Zero Defect” in

manufacturing in the textiles sector. It will also give a boost to employment generation and exports in

the textile sector in a big way.

Further, this scheme would facilitate augmenting of investment, productivity, quality, employment, exports

along with import substitution in the textile industry. It will also indirectly promote investment in

textile machinery (having benchmarked technology) manufacturing.

The ATUFS benefit is available for the benchmarked machinery under the Scheme for various Textile Sectors

including Weaving, Weaving Preparatory and Knitting, Processing of Fibres, Yarns, Fabrics, Garments and

Made-ups, Technical textiles, Garmenting/Made-up Manufacturing, Handloom Sector etc.

The major changes in the Revised Resolution are as follows –
   
*Allowed RRTUFS pending cases for UID under ATUFS.
*Purchase date of the machinery is the date of full & final payment made or date of commercial invoice
whichever is later.
*Allowed the purchase of machinery from other manufacturers other than those given in the indicative list
for JIT request.
*Constituted a Technical Committee for enlistment of machinery manufacturers.
*Addressed the issue of writing machine serial number on any document viz, Commercial invoice/Bill of
Lading/Airway Bill/Bill of Entry, etc.
*Permitted to avail benefits of state government schemes in addition to ATUFS.

Some of the main highlights of the modifications made in ATUFS are as follows:
* Limited Liability Partnership Firms registered under LLP Act 2008 will also be eligible for the benefit

of capital subsidy under ATUFS. 
* Cooperative Banks will also be the lending agency under the scheme. 
* Specification of technology for the machinery for all the eligible segments would be prescribed annually

in advance by the TAMC effective from 1st April of the year. 
* Accessories attachments sample machines and spares procured from other manufacturers enlisted in the

indicative list will also be eligible for subsidy up to a value of 20 per cent of basic cost of machinery.
* Textile units are permitted to avail benefits of the State Government’s Schemes in addition to the ATUFS

benefits. 

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