The Ministry of Textiles under the dynamic leadership of Union Textile Minister, Smriti Zubin Irani, is in the process of formulating the new textile policy and it is likely to be announced in 2020.
Browsing: 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).
The Southern India Mills Association (SIMA), an apex body of spinners in India, appealed to the new Central Government to resolve Technology Upgradation Fund (TUF) issues to boost job creation and exports.
The Government has increased the Merchandise Export from India Scheme (MEIS) from 2 per cent to 4 per cent for all garments and made-ups and also increased the upper limit of Remission of State Levies (RoSL) for the exports of cotton garments from 1.22 to 1.7 per cent and cotton made-ups from 1.55 per cent to 2.20 per cent.
The Apparel Export Promotion Council (AEPC) has welcomed the announcement of Gujarat Government to extend its textile policy by one year.
I remember a presentation I made in China last June, where I proudly claimed that Indian textile industry would be well off even with less purchase of cotton and yarn by China. We all were buzz with optimism and were ranting the Indian consumption story.
TUF scheme had been operating quite effectively over the last few years since its launch in the year 1999 and has been instrumental in fueling modernisation and capacity expansion in the textile industry.