The Department of Heavy Industry has launched a Scheme for enhancement of competitiveness in the Indian Capital Goods Sector in 2014. One of the components of the Scheme is setting up of Centre of Excellence for technology development. The technology developed will help in import substitution and is expected to increase indigenous content in the sector projects in Defence, Nuclear Energy and Railways.
Further, National Capital Goods Policy has also been brought out which recommends, inter alia, measures like setting up of start up centre for Capital Goods which will facilitate incubation, enhancing competitiveness through a cluster approach especially for Capital Goods manufacturing Small and Medium Enterprises (SME) and incentivizing modernization in SMEs to promote manufacturing of quality products.
This information was given by Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri Babul Supriyo in reply to a written question in the Lok Sabha today.
Disclaimer: No Business Standard Journalist was involved in creation of this content
