Amended Technology Upgradation Scheme (ATUFs), one of the main schemes for Indian textile industry, can see some improvement in near future.
A stakeholders’ consultation on reducing compliance burden in ATUFS, in-line with Government’s commitment towards ease of doing business took place. Smriti Irani, Minister of Textiles, chaired this meeting.
The industry also appealed for extension of this scheme beyond 31 March 2022 for 5 more years. One of the persons present in the meeting told on the condition of anonymity, “The indication we got in this meeting was positive and there are enough chances that scheme can be continued.”
He further added that as the scheme has become very complicated, MoT really needs to work hard on this.
Upendra Prasad Singh, Secretary Textiles and other officials of MoT were present in the meeting. Various trade bodies of textile industry shared their views in the meeting.
It can be mentioned here that industry has had lot of issues with this scheme, and time and again this issue has been raised strongly. Even for small errors, Government officials reject the whole subsidy. Still no effective solution has been made in this regard.
The Government has ensured Rs. 700 crore for ATUFs in the budget.
Source : https://in.apparelresources.com/