National Policy For Development of Heavy Industries

Apr 01:Ministry of  Heavy Industries seeks to provide technology development as well as environment-friendly technologies in the industry through innovative policies/schemes.

Accordingly, to strengthen the Capital Goods sector the National Capital Goods Policy, 2016 was laid out in which it is recommended to take initiatives to accelerate the growth of the Capital Goods Sector. The objectives of the Policy are:

  1. To increase the total production

2. To increase employment (both direct and indirect)

3. To increase the domestic market share

4. To increase exports

5. To significantly enhance the availability of skilled manpower with higher productivity in the capital goods sector.

6. To improve ‘technology depth’ in capital goods sub-sectors by increasing research intensity in India.

7. To promote standards to enhance the quality regime in the capital goods sector through relevant standards to propel the sector and curb the inflow of sub-standard capital goods

8. To promote SMEs to enhance growth and build the capacity of SMEs to compete with established domestic and international firms and become national and global champions of capital goods in the future.

This information was given by the Minister of State for Heavy Industries Shri Krishan

Pal Gurjar in a written reply in the Rajya Sabha today.


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