Government has identified Capital Goods Sector as a strategic sector. The reasons for lack of long term roadmap to develop indigenous manufacturing base in this sector.
A road map for developing indigenous manufacturing in this sector is covered under the National Manufacturing Policy formulated by the Government of India in 2011. National Manufacturing Policy also includes Capital Goods.
Further, Department of Heavy Industry prepared a Working Group Report under the aegis of Planning Commission in 2011 for Capital Goods and Engineering Sector.
These two policy documents contain recommendations for developing domestic manufacturing base in the long run.
Before entering into negotiations with its trading partners, studies are undertaken internally, as well as through the Joint Study Group (JSG) to study feasibility of the proposed Free Trade Agreements (FTAs), including their impact on the domestic stakeholders. Apex Chambers of Commerce and Industry, Industry Associations as well as the Administrative Ministries and Departments are consulted. In order to protect the interest of the domestic industry including the capitalgoods sector, these agreements provide for maintaining sensitive/ negative lists of items on which limited or no tariff concessions are granted under the FTA.
This information was given today by Minister of State in the Ministry of Heavy Industries and Public Enterprises, Shri G.M. Siddeshwara in a written reply to Rajya Sabha question.
ST/jk
A road map for developing indigenous manufacturing in this sector is covered under the National Manufacturing Policy formulated by the Government of India in 2011. National Manufacturing Policy also includes Capital Goods.
Further, Department of Heavy Industry prepared a Working Group Report under the aegis of Planning Commission in 2011 for Capital Goods and Engineering Sector.
These two policy documents contain recommendations for developing domestic manufacturing base in the long run.
Before entering into negotiations with its trading partners, studies are undertaken internally, as well as through the Joint Study Group (JSG) to study feasibility of the proposed Free Trade Agreements (FTAs), including their impact on the domestic stakeholders. Apex Chambers of Commerce and Industry, Industry Associations as well as the Administrative Ministries and Departments are consulted. In order to protect the interest of the domestic industry including the capitalgoods sector, these agreements provide for maintaining sensitive/ negative lists of items on which limited or no tariff concessions are granted under the FTA.
This information was given today by Minister of State in the Ministry of Heavy Industries and Public Enterprises, Shri G.M. Siddeshwara in a written reply to Rajya Sabha question.
ST/jk
