There was no word on whether the technology upgradation fund (TUF) scheme for new investments in the textile industry will be extended when it expired in March 2022. The absence of TUF has resulted in new projects becoming at least 35% more expensive, and the Gujarat textile sector is requesting that the scheme be implemented with retrospective effect. The Gujarat government should launch a new programme to support the apparel industry, according to industry participants, as the current one expires in October 2022. The TUF plan expired in March of last year, and although there has been talk of a new TUF scheme, nothing has been officially declared, according to Saurin Parikh, head of the GCCI textile taskforce. We think that government assistance in spinning, weaving, processing, and clothing production is necessary to turn India into a world textile centre.
In order to maintain our competitiveness on the global market, we must boost cotton yield from the present 500 kg per hectare to 750 kg. Co-chairman of the GCCI textile taskforce Rahul Shah stated, “Gujarat has seen new investments of approximately Rs 500 crore in textiles since last March, and they should reap the benefits of the TUF plan. Due to the scheme’s absence, new projects now cost 35% more. The clothes programme of the Gujarati government expired in October of last year and was not renewed. A new policy should be established to support the industry as the Gujarat Textile Policy would expire in December 2023.
