Encouragement to Research and Innovation in Textile Sector

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..... Encouragement to Research and Innovation in Textile Sector - News and Press Release Dated:- 12-3-2020 - News - The Government is implementing Amended Technology Upgradation Fund Scheme (ATUFS), a credit linked Capital Investment Subsidy (CIS) scheme during 2016 to 2022 with an outlay of ₹ 17822 crore to catalyze capital investments for technology upgradation and modernization of the textil .....

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..... e industry. The scheme promotes ease of doing business in the country and achieve the vision of generating employment and promoting exports through Make in India with Zero effect and Zero defect in manufacturing. The scheme facilitates augmenting of investment, productivity, quality, employment, exports along with import substitution in the textile industry. It also indirectly promotes inv .....

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..... estment in textile machinery (having benchmarked technology) manufacturing. Every eligible individual entity (not the unit) will be entitled for reimbursement of Capital Investment Subsidy (CIS) under this scheme, as per the following rates: Sl.No. Segment Rate of Capital Investment Subsidy (CIS) 1. Garme .....

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..... nting, Technical Textiles 15% subject to an upper limit of ₹ 30 crores 2. Weaving for brand new Shuttle-less Looms (including weaving preparatory and knitting), Processing, Jute, Silk and Handloom. 10% subject to an upper limit of ₹ 20 crores 3(a) Composite unit /Multiple Segments .....

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..... - If the eligible capital investment in respect of Garmenting and Technical Textiles category is more than 50% of the eligible project cost. 15% subject to an upper limit of ₹ 30 crores 3(b) Composite unit/ Multiple Segments - If the eligible capital investment in respect of Garmenting and Technical Textiles category is less than 50% of th .....

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..... e eligible project cost. 10% subject to an upper limit of ₹ 20 crores In case the entity had availed subsidy earlier under RRTUFS, it will be eligible to the extent of balance subsidy for new or existing units within the overall ceiling fixed for an individual entity. Ministry has also notified the Scheme for Production and Employment Linked Sup .....

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..... port for Garmenting Units (SPELSGU) under ATUFS to incentivize production and employment generation in the garmenting sector vide Resolution dated 25.07.2016. The Government has also approved reforms inter alia to boost Employment Generation and Exports in the Made-Ups Sector vide Resolution dated 10.01.2017. The additional incentive of 10% is provided to both the garmenting and made-ups units reg .....

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..... istered under ATUFS on achievement of employment projected by them. With a view to position the country as a global leader in Technical Textiles, the government has approved the proposal for creation of National Technical Textiles Mission at a total outlay of ₹ 1480 Crore, with a four-year implementation period from FY 2020-21 to 2023-24. Under Component-I (Research, Innovation and Devel .....

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..... opment) a category of research and development activity is planned to be taken up for development of machineries, test-equipment concerning technical textiles, and to enhance indigenous manufacturing of technical textiles machinery in the country. This research is planned to be coordinated at Central Manufacturing Technology Institutes. This information was given by the Minister of Textiles, S .....

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..... mriti Zubin Irani, in a written reply in the Rajya Sabha today. *** MM/SB - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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