19 May 2012

Capital Goods Industry

he Planning Commission has formulated a “Manufacturing Plan” for the 12th five year plan under which Capital Goods is one of the focus sectors. The Plan proposes policies and technology support with a view to provide level playing field to domestic manufacturers vis-a-vis foreign companies and aims to enhance growth, global competitiveness and reduction in import dependence. Government has also set up Development Councils for important sectors like Machine Tools, Textile Machines and Heavy Electricals Equipment. 

The Government proposes to provide technical support and modern industrial parks to the capital goods industry in the Twelfth Five Year Plan. “Manufacturing Plan” envisages Common Facility Centres and Product Development Centres in and around Capital Goods Industrial Clusters. 

During Eleventh Five Year Plan a feasibility study for a planned scheme was prepared. Financial approval of the scheme was deferred to the Twelfth Five Year Plan. A scheme with an outlay of Rs. 2,360 crore is proposed by the Department of Heavy Industry for the Twelfth Five Year Plan. The scheme includes R&D and technology support, common facility support, skill development and interest subvention. 

This information was laid on the table of the House in Lok Sabha today by the Union Minister for Heavy Industries and Public Enterprises Shri Praful Patel. 

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