Textile ministry may simplify ATUFS norms soon to make it industry friendly

Steering committee discussed existing complicated norms on Thursday, to call for a meeting with industry players soon

In a major relief, the textile ministry may soon announce simplified norms under the Amended Technology Funds Scheme (ATUFS) for players in textile and intermediaries across the value chain.

Following severe difficulties faced by textile players to avail benefits under ATUFS due to its complicated structure, a steering committee under the aegis of senior textile ministry officials held its meeting on Thursday to discuss modalities for its simplifications. The industry hopes that the ministry would soon convene a meeting of senior industry officials including their representative bodies to make the scheme industry-friendly.

The complications can be gauged from the fact