'Centre approves scheme for tech in capital goods sector'

Food Processing Minister says the scheme is first in the series of initiatives under the prime minister's vision of Make in India

Union Food Processing Minister Harsimrat Kaur Badal on Monday said the Union Cabinet had approved a scheme to enhance competitiveness in the Indian capital goods sector for development of specified technologies with budgetary support of Rs 581.22 crore.

She said the scheme is first in the series of initiatives under the prime minister's vision of Make in India. The scheme will be upscaled based on the experience gained and seeks to indigenise imports.

Badal said more than 80 per cent units were in small and medium enterprises and had limited capabilities to develop newer technologies. Government intervention was needed as it considers the technology to be the Achilles heel of the sector.