The government on Wednesday said it has initiated a process to settle Rs 3,000-crore worth dues related to some "blackout and left-out" cases that had found no mention in the Amended Technology Upgradation Fund Scheme (ATUFS), textile secretary Rashmi Verma said. She was speaking at the inauguration of the India International Garment Fair.
The Cabinet approved ATUFS in December, replacing the Revised Restructured TUFS (RR-TUFS), a move expected to boost job creation and exports. Binoy Job, secretary general of Confederation of Indian Textile Industry said the quantum of liabilities under the blackout and left-out period cases was around Rs 3,000 crore.
The settlement of the committed liabilities had been a grey area after the government did not mention anything about it when it notified ATUFS.
Textile Minister Santosh Gangwar said the ministry may approach the Cabinet seeking approval for the much-awaited new national textiles policy that seeks to create 35 million jobs and boost exports to over $ 300 billion.
"The draft policy is ready and discussions are on. We hope to place it before the Union Cabinet in a month's time," Gangwar said.
