KNN Bureau Sectors 23 Mar 2016 16:44:44 <strong><strong><img alt="Union Cabinet clears the Capital Goods Policy" src="http://knnindia.co.in/knnuploads/uploads 4.1.14/capital-goods-23-3-16.jpg" style="width: 320px; height: 220px; margin: 1px; border-width: 1px; border-style: solid; float: left;" /></strong>New Delhi, Mar 23 (KNN)</strong> The Union Cabinet today cleared the capital goods policy to increase domestic production of the capital goods whose demand is currently met majorly through imports.<br /> <br /> Capital goods are machines and tools used in the production of other goods.<br /> <br /> Around 40-45 per cent demand for capital goods, which are used by manufacturers, is met by imports, which is pegged at around&nbsp; dollar 20 billion annually.<br /> <br /> India is a big importer of capital goods from China.<br /> <br /> The objective of the policy is to more than triple domestic production of capital goods - from Rs 2.30 lakh crore in 2014-15 to Rs 7.5 lakh crore by 2025.<br /> <br /> The National Capital Goods Policy was drafted by joint task force of Confederation of Indian Industries and Department of Heavy Industries. <strong>(KNN Bureau)</strong> 14187 http://knnindia.co.in/sectors/union-cabinet-clears-the-capital-goods-policy/31-14187.go 23 Mar 2016 16:44:44 KNN