The Tirupur Exporters’ Association (TEA) today hailed the announcement of Amended Technology Upgradation Fund (ATUF) guidelines, financial and operational parameters, and implementation mechanism.

Under ATUFS, the rate of capital investment subsidy is 15 percent on eligible machines for garment segment, and the Capital Investment Subsidy (CIS) per individual entity is Rs.30 Crores. In the ATUFS, only new machinery are permitted and accessories, attachments, sample machines, and spares received along with the machinery up to a value of 20 percent of the machinery cost are eligible, TEA president A Shaktivel said in a release.

Since the ATUFS was available for five years, the exporting units can plan accordingly and decide on their investments, he said.