4/20/2016

NationalCapitalGoodsPolicytofacilitateindustrycompetitiveness:AnantGeete

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NationalCapitalGoodsPolicytofacilitate
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4/20/2016

NationalCapitalGoodsPolicytofacilitateindustrycompetitiveness:AnantGeete

industrycompetitiveness:AnantGeete
inIndustryNewsMakeInIndiabymotorindiaMarch21,2016at8:44am|

Realising the strategic importance of capital goods and the pivotal role that it plays in overall
manufacturingiscentraltothevisionoftheMakeinIndiacampaign.

Mr.AnantGeete,MinisterofHeavyIndustry&PublicEnterprise
ThiswasstatedbyMr.AnantGeete,Minister,HeavyIndustry&PublicEnterprise,whileunveiling
the National Capital Goods Policy, a first timeever policy for this sector at a seminar on Capital
Goods and Engineering: Realizing the Make in India Vision held as part of the Make in India
Week.
It is an endeavour to drive growth for the capital goods sector and a part of the Government
commitmenttohelprealisethisvisionofBuildingIndiaastheWorldClassHubforCapitalGoods.
Thepolicyenvisagesincreasingexportsfromthecurrent27%to40%ofproduction,whileincreasing
theshareofdomesticproductioninIndiasdemandfrom60%to80%,thusmakingthecountryanet
exporterofcapitalgoods.Thepolicyalsoaimstofacilitateimprovementintechnologydepthacross
the subsectors, increase skill availability, ensure mandatory standards and promote growth and
capacitybuildingofMSMEs.
NationalCapitalGoodsPolicyisauniqueGovernmentledindustrydrivenmanoeuvreforscripting
anewgrowthnarrativeinthehistoryofindustrialdevelopment.TheDepartmentofHeavyIndustry
set up a joint task force with CII as an attempt to ensure that the formulation of the Capital Goods
Policyisdoneinthemostdemocraticmannerandtherecommendationsbeingmadecarvearoadmap
forcapitalgoodsthatmakesthesectorapartofglobalvaluechains,apartfrommeresupplychains.
The policy has been framed after extensive stakeholders consultations with industry, academia,
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NationalCapitalGoodsPolicytofacilitateindustrycompetitiveness:AnantGeete

different ministries, etc., to finalize the key recommendations which will support and boost
developmentofthiscrucialsector.
Theaimofthepolicyistocreategamechangingstrategiesforthecapitalgoodssector.Someofthe
key issues addressed include Availability of Finance, Raw Material, Innovation and Technology,
Productivity, Quality and Environment Friendly Manufacturing Practices, Promoting Exports and
CreatingDomesticDemand.
Key policy recommendations include strengthening of the existing scheme of the DHI on
enhancementofcompetitivenessofthecapitalgoodssectorbyincreasingthebudgetaryallocationand
expandingitsscopetofurtherboostglobalcompetitivenessinvarioussubsectorsofCG,enhancing
the export of Indian made capital goods through a Heavy Industry Export & Market Development
AssistanceScheme(HIEMDA),launchingaTechnologyDevelopmentFund,upgradingexistingand
setting up new testing & certification facility, making standards mandatory in order to reduce sub
standardmachineimportsand,atthesametime,providingopportunitytolocalmanufacturingunits
byutilisingtheirinstalledcapacityandlaunchingaschemeofskilldevelopmentfortheCGsector.
Addressinganinauguralsession,Mr.AnantGeetesaidthatthecapitalgoodssectoriscurrentlygoing
throughmanychallengesandissues,andtoaddressthosechallenges,theGovernmenthaslaunched
the comprehensive National Capital Goods Policy. The clear objective of this policy is to increase
productionofcapitalgoodsfromRs.230,000croresin201415toRs.750,000croresin2025.
Mr. Geete lauded the industry for its efforts and contribution towards the CG sector, especially the
MSME industry. He assured that his Ministry will handhold the industry for building India as the
worldclasshubforcapitalgoods.
Hefurthersuggestedthattheneedofthehouristoadoptandacceptthelatesttechnologiesavailable
across the world to promote the CG sector. Currently India is the most secure destination for
investmentswithadequatemanpower.
Mr. Vipin Sondhi, Chairman, CII National Committee on Capital Goods and Engineering, and
ManagingDirector&CEO,JCBIndiaLtd.,saidthattheNationalCapitalGoodPolicywillactasan
engine to promote the capital goods sector in the global market and help in placing the sector on a
highgrowthtrajectory.
Mr. Sumit Mazumder, CII President, said that the Government has taken unprecedented and
innovative steps with multidimensional endeavour to boost manufacturing, such as targeting skill
development,FDI,R&Dand,mostsignificantly,easeofdoingbusiness.Industryisgreatlyinspired
bythemanystepstakenundertheMakeinIndiacampaign,headded.
Several MoUs were signed in the presence of highlevel dignitaries of the Department of Heavy
Industries. The first MoU signed between Heavy Engineering Corporation Ltd. (HEC) and
CNIITMASH,Russia,wasforsettingupaCommonEngineeringFacultyCentrefortrainingatHEC,
Ranchi.The second MoU signed between HEC and PaulWorth, Luxembourg, was for a new coke
ovenbatteryandrefurbishingofcokeovenmachinery.

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