TUFS


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AcronymDefinition
TUFSTokyo University of Foreign Studies (Japan)
TUFSTechnology Upgradation Fund Scheme
TUFSTextile Upgradation Fund Scheme (Ministry of Textiles; India)
TUFSThe Useful Free Site
References in periodicals archive ?
The major objectives of the present restructured TUFS scheme are as follows:- (a) address the issues of fragmentation and promote forward integration by providing five percent IR for spinning units with matching capacity in weaving/knitting/processing/ garmenting; (b) promoting investments in sectors with low investment like processing; (c) reducing the repayment period to seven years with two years moratorium to promote financial efficiency; (d) Technology upgradation in weaving by providing higher capital subsidy for establishment of new shuttle less looms," a Textiles Ministry statement said.
Since its introduction in 1999, the first phase of TUFS was a huge success, but, over the last couple of years, due to a slowdown in the textile industry there were very few takers for the scheme.
Reports suggest that the restructured TUFS, introduced in 2012, would continue in the current year (2012-13).
The government has recommended continuation of TUFS with an allocation of Rs.
Earlier, in August this year, the Cabinet Committee on Economic Affairs gave its approval for continuing the TUFS during the 12th Plan period with a major focus on powerlooms in accordance with the Budget announcement for the financial year 2013-14.
300 crore within TUFS to enable poor powerloom weavers, having limited capacity to make capital investments, to upgrade their looms through payment of easy installments.
Fully cognizant of the potential of this sector, the government has, in the past 3 years, taken many initiatives like implementing the Scheme for Growth and Development of technical textiles (SGDTT), inclusion of major machinery for technical textiles under modified TUFS for 10% capital subsidy etc.