Capital Goods Policy 3.0: Govt's expansion plan to encompass key sectors

The new policy will replace the existing National Capital Goods Policy 2016

The Centre is considering broadening the scope of its capital goods policy to include key sectors such as defence, railways, pharmaceutical, steel, and more. The Ministry of Heavy Industries (MHI) has already established a joint task force to develop the National Capital Goods Policy 2025.

MHI has also formed six working groups consisting of representatives from various ministries, departments, industries, and industrial associations to gather sector-specific feedback.

These working groups will focus on supercharging domestic demand, improving the balance of trade, promoting India as a manufacturing hub, building an information technology ecosystem, enhancing research and development, leveraging digital technology,