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Saturday, 14 January 2017

Indian madeups units to get 10% more subsidy under ATUFS

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Under the Amended Technology Upgradation Fund Scheme (ATUFS), Indian producers of madeups like blankets, curtains, crochet laces and bedsheets are now eligible for an additional 10 per cent capital investment subsidy (CIS) of up to Rs 20 crore. The additional subsidy will be disbursed after a period of three years and is subject to a verification mechanism.

A notification from the textiles ministry informed that every eligible madeups unit which has availed 15 per cent benefit under ATUFS will be paid an additional 10 per cent capital investment subsidy on their investment up to an additional maximum cap of Rs 20 crore.

"Thus, the total cap on subsidy for such a unit is enhanced under ATUFS from Rs 30 crore to Rs 50 crore, of which Rs 30 crore is for 15 per cent CIS and Rs 20 crore for the additional 10 per cent CIS,” the notification added. (AR)

Source: Fibre2Fashion News Desk – India