Cabinet approves Amended Technology Upgradation Fund Scheme for Textiles industry

Cabinet approved the introduction of "Amended  Technology Upgradation Fund Scheme (ATUFS)" in place of the existing Revised  Restructured   Technology   Upgradation   Fund   Scheme   (RR-TUFS).

The new scheme specifically targets:

a.       Employment generation and export by encouraging apparel and garment industry, which will provide employment to women in particular and increase India’s share inglobal exports.

b.      Promotion of Technical Textiles, a sunrise sector, for export and employment

c.       Promoting conversion of existing looms to better technology looms for improvement in quality and productivity

d.      Encouraging better quality in processing industry and checking need for import of fabrics by the garment sector.

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.

A budget provision of Rs.17,822 crore has been approved, of which Rs. 12,671 crore is for committed liabilities under the ongoing scheme, and Rs. 5,151 crore is for new cases under ATUFS.

Under the new scheme, there will be two broad categories:

i.                    Apparel, Garment and Technical Textiles, where 15 percent subsidy would be provided on capital investment, subject to a ceiling of 30 crore rupees for entrepreneurs over a period of five years.

ii.                  Remaining sub-sectors would be eligible for subsidy at a rate of 10 percent, subject to a ceiling of Rs.20 crore on similar lines.

National Biotechnology Development Strategy 2015-2020.

-The Strategy aims to establish India as a world-class bio-manufacturing hub.  

- It intends to launch a major mission, backed with significant investments, for the creation of new biotech products, create a strong infrastructure for R&D and commercialization, and empower India’s human resources scientifically and technologically.

The envisaged mission is:

•      Provide impetus to utilising the knowledge and tools to the advantage of Humanity

•      Launch a major well directed mission backed with significant investment for generation of new Biotech Products

•      Empower scientifically and technologically India’s incomparable Human Resource

•      Create a strong Infrastructure for R&D and Commercialisation

•      Establish India as a world class Bio-manufacturing Hub

The Key elements of the Strategy are:

•      Building a Skilled Workforce and  Leadership

•      Revitalizing the knowledge environment at par with the growing bio-economy

•      Enhance Research opportunities in basic, disciplinary and inter-disciplinary sciences

•      Encourage use-inspired discovery research

•      Focus on biotechnology tools for inclusive development

•      Nurturing innovation, translational capacity and entrepreneurship

•      Ensuring a transparent,  efficient and globally best Regulatory system and communication strategy

•      Biotechnology cooperation- Fostering global and national alliances

•      Strengthen Institutional Capacity with redesigned governance models

•      Create a matrix of measurement of processes as well as outcome

The key elements would be implemented in collaboration and partnership with Other Ministries, Departments, State Governments and international agencies towards achieving:

•      Making India ready to meet the challenge of  achieving US$100bn by 2025

•    Launching Four Major Missions – Healthcare, Food and Nutrition, Clean Energy and Education

•      Creating a Technology Development and Translation  network across the country with global partnership-5 new clusters, 40 Biotech incubators, 150 TTOs, 20 Bio-connect centres

•      Strategic and focussed investment in building the Human Capital by creating a Life Sciences and Biotechnology Education Council