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Cabinet approves National Capital Goods Policy
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SME Times News Bureau | 26 May, 2016
The union cabinet on Wednesday approved National Capital Goods Policy aimed at increasing capital goods production from the current value of Rs.2,30,000 crore to Rs.7,50,000 crore by 2025.
"The policy envisages increasing exports from the current 27 percent to 40 percent of production. It will increase the share of domestic production in India's demand from 60 percent to 80 percent thus making India a net exporter of capital goods," said an official statement.
Also with an aim to improve technology depth across sub-sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSME, the National Capital Goods Policy envisages to raise direct and indirect employment from 8.4 to 30 million.
"The policy will help in realising the vision of building India as the world-class hub for capital goods. It will also play a pivotal role in overall manufacturing as the pillar of strength to the vision of 'Make in India'," said the statement.
The Department of Heavy Industry mooted the idea of National Capital Goods Policy to Prime Minister Narendra Modi during a 'Make in India' workshop in December 2014.
Likewise, the same department will meet the objectives of the approved policy in a time-bound manner, procuring the green signal for schemes according to the roadmap of policy interventions, the statement said.
"The aim of the policy is to create game-changing strategies for the capital goods sector. Some of the key issues addressed include availability of finance, raw material, innovation and technology, productivity, quality and environment-friendly manufacturing practices, promoting exports and creating domestic demand," the statement added.
Reacting to the development, FICCI president Harshavardhan Neotia said: "India has the potential to be the net exporter of capital goods as against the net importer currently. National Capital Goods Policy is definitely the need of the hour."
He added that the National Capital Goods Policy will propel the capital goods sector and go a long way in achieving the vision of 'Make in India'.
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Capital Goods Manufacturing in India
Nalini Jayanthi | Wed Jun 1 09:53:14 2016
PSU's should be supported by giving all Govt orders directly, which makes the company strong also , PSU's will be the backbone of the country. Further, at time of maintaining secrecy of the country its very comfortable with Govt companies . This makes the country streanth very strong during war time etc., This will definetely increase MAKE IN INDIA. PSUs are the countries backbone, bring new rules not killing PSU's.
About Tex pay
Ankur vaghasiya | Tue May 31 16:43:01 2016
Make all in one means universal Tex 5% above 10Lacks And below that 5-10lacks 7.5% and below 5 lacks 6% Tex. So all people automatically put their legal income and make white entry by check. Thank you Please provide land for industries in cost of very low like 500â¹/meter and also give them free electricity so we can decrease cost and increase export and compete the china. Please adope the technology so we can make our production fast. Please stop the import all over word to India and try to use indian product mainly in cosmetic product and also other product in which we have reward money zero. Please make small industries totally Tex free and provide them land by low cost so they can develop fast. Please stop the landmafia and decrease the cost of land for middle class family so they can make own house. Now a days middle class family can not afford house please think about that topic.
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