National Capital Goods Policy
The cabinet approved the National Capital Goods Policy yesterday. This is the maiden policy ever made for capital goods sector ΓÇô with a clear cut objective of achieving the target of Rs. 7.5 Cr in 2025 from currently Rs. 2.30 Cr. It also envisions increasing the employment from 8.4 million to 30 million.
It is on the line of ModiΓÇÕs Make in India intitaive and policy has been crafted to push this ΓÇô that would make India a manufacturing hub. It also aims to increase the exports from the current 27% to 40%. The policy aspires to achieve ΓÇô improvement in technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.
The policy if implemented as mentioned will make India as the world class hub for capital goods. Department of Heavy Industry would meet the objectives of the policy in a time bound manner through obtaining approval for schemes as per the roadmap of policy interventions.
Source: Business Standard