October 24, 2021 5:37 PM

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Textiles Minister Piyush Goyal reviews Amended Technology Up-gradation fund Scheme

<span style="color: #222222;">Textiles Minister Piyush Goyal on Sunday reviewed the Amended Technology Up-gradation fund Scheme at the 5th Inter Ministerial Steering Committee meeting in New Delhi. He reviewed the scheme with the different Ministries, Departments ,Textiles Industry Associations and Banks. They reviewed the Scheme to boost the Indian Textile Industry by enabling ease of doing business, bolstering exports and fuelling employment.</span><br />'' <br />'' <span style="color: #222222;">Speaking on the occasion, Mr Goyal said that despite the hindrances during COVID-19 pandemic, the Ministry and the office of Textile Commissioner have put serious efforts in resolving the policy constraints and settling of the claims. He mentioned that a special measure was introduced to ease liquidity flow in the industry by introducing an option for getting part subsidy released against Bank Guarantee.</span><br />'' <br />'' <span style="color: #222222;">He expressed satisfaction that out of total settlements under the scheme since inception, about 61 per cent of claims have been settled during the peak of pandemic period in 2020-21. The Minister also suggested that Ministry and Textile Commissioner should rework the physical verification mechanism to automated verifications through Video Conferencing mode. He said provision for self certification of machinery by units and random verification by office of Textile Commissioner may be considered in place of present physical inspection.</span><br />

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