First meeting of the DHI task force on capital goods sector held on June 2, 2015
Updated: Jun 02, 2015 05:04:59pm
New Delhi, Jun 2 (KNN) Chairing the first meeting of task force constituted by the Department of Heavy Industry, on growth of the Indian capital goods sector, Secretary, Heavy Industries, Rajan Katoch mentioned about the need for an immediate action plan for the growth of the fledging sector and in this regard mentioned about the scheme announced by the Ministry for supporting, R&D, common facilities, acquisition of technology etc. He also mentioned about correction of the inverted tax structure for capital goods announced in the budget 2015.
Towards capacity building of India capital goods industries to align with the ‘Make in India’ vision, the task force has representation from apex industry bodies like CII and FISME besides representatives from the sectoral associations for machine tools, heavy electrical, textiles machinery, tools and dies.
The vision of the task force has been set at to increase the share of capital goods contribution from present 12 per cent to 20 per cent of total manufacturing activity in India. by the year 2015. Towards this goal, government has prepared a draft policy paper with a mission to launch India amongst the top ten capital goods producing countries of the world with at least 40 per cent of the indigenous production be exported.
In the meeting of the task force, the key issues affecting growth of the capital goods sector namely high level of imports, obsolescence of technology, highly fragmented manufacturing, unavailability of support mechanism etc. were discussed. The task force also highlighted the need for developing the entire value chain and supply chain under each vertical of capital good such as electrical equipment, machine tools and textile machineries. The immediate need for technology upgradation of the vast number of MSME players in the sector were also stressed.
It was decided in the meeting that 3 sub - groups of the task force on technology, demand growth and export facilitation will be constituted and the sub - groups will submit their report in a time bound manner. The task force set August 15, 2015, as the target date for finalisation of a policy on capital goods to be submitted to government for consideration. (KNN/DB)
Towards capacity building of India capital goods industries to align with the ‘Make in India’ vision, the task force has representation from apex industry bodies like CII and FISME besides representatives from the sectoral associations for machine tools, heavy electrical, textiles machinery, tools and dies.
The vision of the task force has been set at to increase the share of capital goods contribution from present 12 per cent to 20 per cent of total manufacturing activity in India. by the year 2015. Towards this goal, government has prepared a draft policy paper with a mission to launch India amongst the top ten capital goods producing countries of the world with at least 40 per cent of the indigenous production be exported.
In the meeting of the task force, the key issues affecting growth of the capital goods sector namely high level of imports, obsolescence of technology, highly fragmented manufacturing, unavailability of support mechanism etc. were discussed. The task force also highlighted the need for developing the entire value chain and supply chain under each vertical of capital good such as electrical equipment, machine tools and textile machineries. The immediate need for technology upgradation of the vast number of MSME players in the sector were also stressed.
It was decided in the meeting that 3 sub - groups of the task force on technology, demand growth and export facilitation will be constituted and the sub - groups will submit their report in a time bound manner. The task force set August 15, 2015, as the target date for finalisation of a policy on capital goods to be submitted to government for consideration. (KNN/DB)
Loading...
