The Government of India had unveiled the National Capital Goods Policy under the Make in India apparition.
- This is the first ever policy for the capital goods sector.
- It aims at increasing the production of capital goods from 230,000 Cr in 2014-15 to Rs. 750,000 Cr in 2025 and elevating direct and indirect employment from the current 8.4 million to 30 million.
- It is a unique scheme for the growth of industrial development by Government for scripting a new growth.
- The new policy foresees increasing exports from the current 27% to 40% of production.
- Making India a net exporter of capital goods the policy will increase the share of domestic production in India from 60% to 80%.
- Through ‘Heavy Industry Export & Market Development Assistance Scheme (HIEMDA) the policy will enhance the export of capital goods of India.
- The technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of Ministry of Micro, Small and Medium Enterprises (MSMEs) will be improved by the capitals goods policy.
- The capital goods policy will help to muddle through the real problems impacting India’s manufacturing sector.
About Ministry of Heavy Industries and Public Enterprises
- The Ministry of Heavy Industries and Public Enterprises is a branch of Government of India, administers 48 Central Public Sector Enterprises (PSEs).
- The department serves as an interface between PSEs and other agencies for long term policy formulation.
- It also encourages restructuring of PSEs to make their operations competitive and viable on a long term and sustainable basis.
- Minister of Heavy Industry & Public Enterprise – Anant Geete