New Delhi, Nov. 30 -- With the aim to boost the manufacturing of textile machinery in the country, the government is planning to replace the Amended Technology Upgradation Fund Scheme (ATUFS) with a scheme similar to production-linked incentive (PLI), according to a report in The Economic Times.
As per the report, the standard operation procedures (SOPs) will be provided to textile manufacturing units for investment in plant and machinery of Rs 1 crore to Rs 50 crore for MSMEs and above Rs 50 crores for non-MSMEs.
In order to promote technological upgradation, the incentives will be provided based on the unit's turnover post making the investment in setting up benchmarked modern technology, it stated.
The PLI scheme seeks to provid...