Surat textile industry to represent issue on subsidy scheme under ATUFS

YarnsandFibers News Bureau, 2017-02-25 11:00:00 - Surat

Related Keywords: Ajay Tamta, boost manufacturing of made ups and garments, Minister of state for textiles, MMF hub of Surat, new platform to traditional MMF hub, provide relief to the sector, subsidy scheme made industry-friendly, tenpercent subsidy on capital investment, textile industry leaders, under A TUFS, will be making a strong representation

Surat
Surat textile industry to represent issue on subsidy scheme under ATUFS

Textile industry leaders will be making a strong representation to the minister of state for textiles Ajay Tamta to provide relief to the sector in order to boost manufacturing of made-ups and garments in the man-made fabric (MMF) hub of Surat.

Textile leader Girdhar Gopal Mundra said that they are going to represent the issue before the minister and seek his intervention and guidance in supporting the industry. If the subsidy scheme is made industry-friendly then more and more entrepreneurs will take the benefit, thereby providing a new platform to the traditional MMF hub for manufacturing garments and made-ups.

Sources said that the Ministry of Textiles in the recently announced capital subsidy on capital investment under the Amended Technology Upgradation Fund Scheme (A-TUFS), the entrepreneurs into the made-ups and garmenting sector will be given 10 percent subsidy on capital investment under A-TUFS.

However, there was an amendment in the subsidy scheme as those investing Rs1 crore will have to employ around 60 workers, whereas big units investing over Rs20 crore with annual turnover of Rs150 crore need to create 1,800 new jobs.

Textile industry leaders said that the entrepreneurs, under the newly announced subsidy scheme, will start getting benefits of the subsidy only after three years.

Minister of state for textiles Ajay Tamta will be in the Diamond City on Saturday to inaugurate Surat International Textile Expo (SITEX) at Surat International Exhibition and Convention Centre (SIECC) at Sarsana.

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Related Keywords: Ajay Tamta, boost manufacturing of made ups and garments, Minister of state for textiles, MMF hub of Surat, new platform to traditional MMF hub, provide relief to the sector, subsidy scheme made industry-friendly, tenpercent subsidy on capital investment, textile industry leaders, under A TUFS, will be making a strong representation

Surat
Surat textile industry to represent issue on subsidy scheme under ATUFS

Textile industry leaders will be making a strong representation to the minister of state for textiles Ajay Tamta to provide relief to the sector in order to boost manufacturing of made-ups and garments in the man-made fabric (MMF) hub of Surat.

Textile leader Girdhar Gopal Mundra said that they are going to represent the issue before the minister and seek his intervention and guidance in supporting the industry. If the subsidy scheme is made industry-friendly then more and more entrepreneurs will take the benefit, thereby providing a new platform to the traditional MMF hub for manufacturing garments and made-ups.

Sources said that the Ministry of Textiles in the recently announced capital subsidy on capital investment under the Amended Technology Upgradation Fund Scheme (A-TUFS), the entrepreneurs into the made-ups and garmenting sector will be given 10 percent subsidy on capital investment under A-TUFS.

However, there was an amendment in the subsidy scheme as those investing Rs1 crore will have to employ around 60 workers, whereas big units investing over Rs20 crore with annual turnover of Rs150 crore need to create 1,800 new jobs.

Textile industry leaders said that the entrepreneurs, under the newly announced subsidy scheme, will start getting benefits of the subsidy only after three years.

Minister of state for textiles Ajay Tamta will be in the Diamond City on Saturday to inaugurate Surat International Textile Expo (SITEX) at Surat International Exhibition and Convention Centre (SIECC) at Sarsana.

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Related Keywords
Ajay Tamta boost manufacturing of made ups and garments Minister of state for textiles MMF hub of Surat new platform to traditional MMF hub provide relief to the sector subsidy scheme made industry-friendly tenpercent subsidy on capital investment textile industry leaders under A TUFS will be making a strong representation

 
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