Follow Us:

Govt. notifies scheme on enhancement of competitiveness in capital goods sector

The scheme has a financial outlay of Rs. 1207 crores with Budgetary support of Rs.975 crore and Industry Contribution of Rs.232 crore. The scheme was notified on 25th January 2022.

Statesman News Service | New Delhi |

The government has notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure.

The scheme has a financial outlay of Rs. 1207 crores with Budgetary support of Rs.975 crore and Industry Contribution of Rs.232 crore. The scheme was notified on 25th January 2022.

The objective of Phase II of the Scheme for Enhancement of Competitiveness of the Capital Goods Sector is to expand and enlarge the impact created by the Phase I pilot scheme, thereby providing greater impetus through the creation of a strong and globally competitive capital goods sector that contributes at least 25% to the manufacturing sector, according to the Ministry of Heavy Industries (MHI).

There are six components under the Scheme for Enhancement of Capital Goods Sector Phase II, namely:

–Identification of Technologies through Technology Innovation Portals;

–Setting up of four New Advanced Centres of Excellence and augmentation of Existing Centres of Excellence;

–Promotion of skilling in Capital Goods Sector–creation of Qualification packages for skill levels 6 and above;

— Setting up of four Common Engineering Facility Centres (CEFCs) and augmentation of existing CEFCs;

–Augmentation of Existing Testing and Certification Centres; and

–Setting up of ten Industry Accelerators for Technology Development.