Wednesday, April 04, 2018

Economics Special: Technology Upgradation Fund Scheme (TUFS).

  1. TUFS was introduced by the Union Government in 1999 to facilitate new technology for making the Indian textile industry globally competitive and to reduce the capital cost for the textile industry.
  2. The scheme was amended during the 12th Five year Plan into Revised Restructured Technology Upgradation Fund Scheme (RR-TUFS).

Amended Technology Upgradation Fund Scheme (ATUFS).

In 2015, CCEA approved ATUFS, which replaces RR-TUFS for technology upgradation of the textiles industry.
The amended scheme would give a boost to “Make in India” in the textiles sector; it is expected to attract investment to the tune of one lakh crore rupees, and create over 30 lakh jobs.
Office of Textile Commissioner (TXC) is being reorganised; its offices shall be set up in each state.

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