Govt plans to invest Rs 400-cr to set up industrial park for machine tools sector

The government is mulling to set up an industrial park for machine tools industry. In order to boost competitiveness of the country's capital goods sector, the government is planning a scheme which proposes to establish an Industrial Machine Tool Park in Public Private Partnership (PPP) mode, said P Radhakrishnan, Minister of State, Heavy Industries & Public Enterprises, in a written reply in the Lok Sabha recently.
 
He added, “A Scheme on enhancement of competitiveness in the Indian capital goods sector is under consideration of the government. The scheme is yet to be approved by the Cabinet Committee of Economic Affairs. The scheme envisages, inter alia, setting up an Industrial Machine Tool Park through PPP at an estimated cost of Rs 400 crore.”
 
The government proposes to develop modern industrial parks for the capital goods industry during the current five-year Plan (2012-17).