Amended Technology Up-gradation Fund Scheme

 Amended Technology Up-gradation Fund Scheme (ATUFS)

✅ Union Minister of Textiles reviewed the ATUFS.

♻️ About ATUFS:

✅ The Ministry of Textiles had introduced the Technology Upgradation Fund Scheme (TUFS) in 1999 as a credit-linked subsidy scheme intended for modernization and technology up-gradation of the Indian textile industry, promoting ease of doing business, generating employment and promoting exports.

✅ Since then, the scheme has been implemented in different versions.

✅ The ongoing ATUFS has been approved in 2016 and is being implemented through a web-based iTUFS platform.

✅ Under this, Capital Investment Subsidy is provided to benchmarked machinery installed by the industry after physical verification.

✅ This is a credit-linked subsidy scheme for capital investment in the manufacturing and textiles sector under the Make in India as well as Zero Defect and Zero Effect initiative of the Government of India. 

✅ The scheme is being administered with a two-stage monitoring mechanism by Technical Advisory-cum-Monitoring Committee (TAMC) and Inter-Ministerial Steering Committee (IMSC).

✅ Eligible individual entities (not units) are entitled to avail reimbursement of the Capital Investment Subsidy (CIS) according to the prescribed rates.

♻️ The following entities are eligible for this scheme:

✅ Silk sector

✅ Handloom sector

✅ Technical textiles

✅ Jute sector

✅ Made-up/garment manufacturing

✅ Processing fabrics, fibres, garments, made-up, and yarns

✅ Weaving preparatory, weaving, and knitting