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Capital Goods Scheme - Govt earmarks Rs 581 Cr as budgetary support

By TIOL News Service

NEW DELHI, NOV 25, 2014: A scheme on "Enhancement of Competitiveness in the Indian Capital Goods Sector" has been notified on 5.11.2014.

The Scheme aims to make Indian capital goods industry globally competitive by strengthening technology development, providing common manufacturing infrastructure and extending financial assistance for technology acquisition.

The Scheme envisages Government Budgetary Support of Rs. 581.22 crore and Industry contribution of Rs. 349.74 crore.

The proposed Scheme has components consisting of infrastructural interventions as well as financial intervention to boost competitiveness of the domestic capital goods industry as under:

++ Setting up of Five Centers of Excellence (CoE) at Indian Institutes of Technologies/ Central Manufacturing Technology Institute for Technology Development in different sub sectors of Capital Goods.

++ Setting up of one Integrated Industrial Infrastructure Facility (IIIF).

++ Setting up of two common Engineering Facility Centers.

++ Setting up of Test and Certification Centre with full Government Support.

++ Technology Acquisition Fund Programme for acquisition of technology.

Detailed Guidelines of the Scheme including funding pattern are available on the website of the Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises at http://dhi.nic.in.

The scheme is likely to be implemented in five year.

This information was given today by Minister of State in the Ministry of Heavy Industries and Public Enterprises, Mr G .M. Siddeshwara in a written reply to Lok Sabha question.


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