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Related Keywords: affected by the move, Amended Technology Upgradation Fund Scheme, Cabinet Committee on Economic Affairs, committed liabilities under old scheme, completely rejects claims of textile mills, Finance Ministry, owner of a textile mill, so called black out period, subsidy against investment, Textile Commissioner, under TUFS

The Cabinet Committee on Economic Affairs (CCEA) decision to introduce the Amended Technology Upgradation Fund Scheme (ATUFS) and approved R12,671 crore for its “committed liabilities” under the old scheme completely rejects claims of textile mills that had sought subsidy against investments made under the Technology Upgradation Fund Scheme (TUFS) during the so-called black-out period, a senior official said.

Related Keywords: immediate steps, Prime Minister Narendra Modi, remain competitive in global market, scrap hank yarn obligation, separate representative, speedy disbursal of subsidies, textile units, under TUFS

Around 300 textile units in the region have made separate representations to Prime Minister Narendra Modi listing out the immediate steps required from the government to support them remain competitive, as they are currently facing stiff competition in the global market.

Textile entrepreneurs wanted the intervention of the Union Government to ensure speedy disbursal of subsidies under the Technology Upgradation Fund (TUFS).