Industry should decide launch-date of new Tech Upgradation Fund scheme: Union Minister Jardosh

Pointing out that there were about 1,500 pending conditions linked to the outdated Technological know-how Upgradation Fund (TUF) plan, Union Textiles Minister Darshana Jardosh Saturday asked the marketplace to make a decision on a day for launching of the new plan.
“For the TUF scheme, we have informed the business to choose on a day (for launch).

The TUF plan was introduced in advance of 2014 and there ended up a selection of shortcomings and problems, for which amendments had been produced,” Jardosh stated immediately after an interaction with many sector bodies related with the textile sector in India.

“About 1,500 circumstances linked to TUF are pending. We have performed distinctive programmes linked to TUFs in Ahmedabad, Surat and Chennai, and tried to deliver options. But as these scenarios are pending, a new plan can not be operationalised. So the business has alone determined and explained to us that the old TUF scheme will be closed by May. We have sought tips for a new plan which will be launched with a new title, and technological and machinery aid,” the minister explained, including that 78 unique associations joined to the textile field across the country were being invited for the interactive session.

This conversation was aspect of “Leadership Conclave” organised by the Gujarat Chamber of Commerce and Market (GCCI).

GCCI which created a presentation right before the minister sought the introduction of the new TUF scheme with retrospective impact from April 2022. The aged TUF scheme expired in March, 2022. It also sought government intervention in clearing pending TUF situations due to “small and petty issues”.

Pointing out that the textile market in India is based mostly on cotton, the minister said adequate do the job on enhancing the cotton yield and high quality of seed has not been carried out. “People throughout the planet mostly use guy-produced fibre. We use only 25 for each cent of it. So, when the federal government declared the Generation-Linked Incentive Plan (PLI) plan, it was targeted on technical textiles, all set-designed garments and guy-created fibre. Of the 87 companies who have demonstrated desire in the scheme, 7 gamers are from Gujarat,” Jardosh included.

Later on in the night, Main Minister Bhupendra Patel formally inaugurated the Textile Conclave and unveiled a textile directory which has profiles of 6,000 businesses in 9 products types.

Meanwhile, Union Minister Jardosh on Saturday inaugurated a three- working day specific handloom expo in Surat.

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