Union Government has unveiled a National Capital Goods Policy 2016 to give an impetus to the capital goods sector and the Make in India initiative. It was unveiled by the Union Minister of Heavy Industry and Public Enterprise Anant Geet on the occasion of the Make in India Week held in Mumbai, Maharashtra. This is for the 1st time, the Union Government (Ministry of Heavy Industry and Public Enterprise) has framed such national policy for the capital goods sector.
Key features of Policy:
- Increase the exports of capital goods from the current 27-40 percent of production. Increase share of domestic capital goods production in terms of demand from 60-80percent in order to make India a net exporter of capital goods.
- Facilitate improvement in technology depth across sub sectors, ensure mandatory standards, increase skill availability and promote growth & capacity building of MSMEs.
- Seeks to address some of the key issues including availability of finance, raw material, productivity, quality & environment friendly manufacturing practices, innovation & technology, creating domestic demand and promoting exports.
- Enhance Indian made capital goods export through a ‘Heavy Industry Export or Market Development Assistance Scheme (HIEMDA)’.
- Strengthening existing scheme of Department of Heavy Industry on enhancement of competitiveness of Capital Goods sector by increasing the budgetary allocation.
- Seeks to launch a TDF (Technology Development Fund), upgrade existing and setting up new testing and certification facility.
- It also seeks to make standards mandatory in order to reduce sub standard machine imports and provide opportunity to local manufacturing units and launch scheme of skill development for Capital Goods sector.
The Union Government has unveils National Capital Goods Policy 2016
No comments:
Post a Comment