(Image source from: New scheme cheers textile industry)

The decision from the Union government to launch an amended technology upgradation fund scheme has lightened the textile industry. The new scheme is a replacement for the existing revised, restructured TUFS. The financial burden of the textile units would be eased with the scheme, besides enabling higher investments in the sector, according to industry officials.

Tirupur Exporters' Association (TEA) President Sakthivel said, "The new scheme specifically targets employment generation and exports by encouraging apparel and garment industry." He said that this will be helpful in offering employment especially to women besides increasing India's share in global exports.

The scheme has the potential to generate investments to the tune of `1 lakh crore and create over 30 lakh jobs, said the government following the cabinet approval of A-TUFS. But, the spinning sector is probably not included in the scheme due to its already excess capacity.

Confederation of Indian Textile Industry (CITI) Chairman Naishadh Parikh said, "This (A-TUFS) could trigger the growth of textile manufacturing in India."

"The government's decision to make budgetary allocation for the committed liability of the earlier schemes comes as a great relief to the industry, which is going through a tough time," he said.

- Sumana