SME TImes News Bureau | 13 Jun, 2018
biggest success of Make in India programme is in the auto sector,
said Union Minister of Heavy Industries & Public Enterprises,
the press on the completion of 4 years of Government, Geete said the
auto mobile sector of India is one of the largest in the world and
accounts for over 7.1 % of India’s GDP and contributes nearly 22 %
of India’s manufacturing GDP.
minister added that the sector has become a manufacturing base for
global car makers.
Minster also spoke about the Faster Adoption Manufacturing of Hybrid
And Electric Vehicles in India (FAME) which was launched in 2015 and
is proposed to be implemented over a period of 6 years till 2020.
Under FAME India scheme, 22 Original Equipment Manufacturers with 80
models are registered for availing demand incentive.
31st March 2018, the Government has given financial
support (demand incentive) to about 1,86,431 electric/hybrid vehicles
amounting to Rs. 256.93 Crore.
Minister informed that the Department has sanctioned nearly 500
electric buses across nine major cities with an expected cash outgo
of approx. Rs. 280 crore. This will be a game changer in the public
Minister also spoke about the capital goods policy launched in 2016
with the vision to increase the share of capital goods contribution
from present 12 % to 20 % of total manufacturing activity by the year
policy aims to increase the production of capital goods from Rs
230,000 cr in 2014-15 to Rs. 750,000 cr in 2025 and raising direct
and indirect employment from the current 8.4 million to 30 million.
Minister also spoke about the setting up of Centres of Excellence by
the Department of Heavy Industries in order to make the Indian
Capital Goods Sector globally competitive by addressing the issues of
technological depth besides creating common industrial facility