National Policy on Capital Goods

By | December 1, 2015

As per Press release by Ministry of Heavy Industries & Public Enterprises of Govt of India on 01-December, 2015

A draft base paper on National Policy on Capital Goods was prepared by the Department of Heavy Industry (DHI)- Confederation of Indian Industry (CII) Joint Task Force on Capital Goods and Engineering. This draft paper containing all details has been posted on the Department’s website:  dhi.nic.in under the Head: What’s new > Draft base paper for National Policy on Capital Goods and Engineering.

Several Ministries and stakeholders have submitted responses to the draft.

Share of India in global export in Capital Goods was 0.8% whereas that of China is 15.5% in the year 2014.

(Source: EEPC/ CII).

A Scheme for enhancement of competitiveness in the Indian Capital Goods Sector has been launched by DHI which envisages a number of steps to improve competitiveness including development of technology through interventions like setting up Centre of Excellence for technology development and financial intervention for acquisition/ transfer of technology. The Scheme also envisages setting up of Common Engineering Facility Centre,   Integrated Industrial Infrastructure Facility and Test & Certification Centre for extending infrastructural facility to domestic capital goods industry. These measures are expected to boost competitiveness of the indigenous Capital Goods Industry in the global market. Details of the Scheme are at:  dhi.nic.in    under the Head Schemes> Capital Goods Scheme> Scheme Notification containing Guidelines.

The Department receives pre budget memoranda from different Industry Associations highlighting issues/ demands of respective sub sectors of Capital Goods Industry. The issues are examined by DHI and if found justified, are taken up with the Ministry of Finance. The Department also takes up issues with the Department of Commerce where industry reports adverse impact on domestic capital goods industry due to Preferential Trade Agreement(s)/ Free Trade Agreement(s). Apart from the above, Development Councils constituted for four sub sectors of Capital Goods Industry i.e. Machine Tools Industry, Textile Machinery  Industry, Heavy Electrical Industry and Earthmoving, Construction and Mining Machinery provide  valuable platform  for stakeholders such as Government Departments, Industry Association, Users and Academia to propose steps to develop the respective sub- sectors of domestic Capital Goods Industry to boost manufacturing and increase India’s share in the global exports in the Capital Goods Sector.

This information was given by Minister of Heavy Industries and Public Enterprises, Shri Anant G. Geete in a written reply in Lok Sabha today.

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