Approval of ATUFS will boost textile exports: Ficci

NEW DELHI: Approval of the amended technology upgradation fund scheme ( ATUFS) would help boost textile and apparel exports, industry body Ficci today said.

"The approval has come as a great relief to the industry especially when the exports were declining in textile and apparel sector," it said in a statement.

It said the focus on employment generation and export under the new TUFS by encouraging apparel and garment industry and promotion of technical textile sector, is a welcome step which will help in furthering the cause of Make in India.

The government yesterday approved ATUFS in place of the existing Revised Restructured TUFS for technology upgradation of the textiles industry, a move expected to attract investment of Rs 1 lakh crore and create over 30 lakh jobs by 2022.