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CCEA okays scheme to boost capital goods' competitiveness
16
Sep '14
India’s Cabinet Committee on Economic Affairs (CCEA), at a meeting chaired by Prime Minister Narendra Modi, has approved the “Scheme for Enhancement of Competitiveness of the Capital Goods Sector” to boost the Indian economy.
 
The scheme, aimed at making the Indian capital goods sector globally competitive, will mainly cover textile machinery, machine tools, construction and mining machinery, and process plant machinery.
 
The proposed scheme, with an estimated outlay of Rs. 9.3 billion, will address the issue of technological depth creation in the capital goods sector, besides creating common industrial facility centres. 
 
The scheme will be implemented in the 12th Five Year Plan period (till 2017) and also spill over to the 13th Plan period. The Gross Budgetary Support (GBS) from the Government for the scheme would be Rs. 5.81 billion and the balance Rs. 3.49 billion would be contributed by the stakeholder industries. 
 
In pilot mode, the scheme has five components to achieve the desired result. One of them is establishment of ‘Common Engineering Facility Centre’ for Textile Machinery, with active participation of the local industry and the industry association, which in turn would improve facilitation to the users along with visibility.
 
The Common Engineering Facility that can be provided within such set ups are common foundry, common heat treatment, testing laboratories, design center, common prototyping, general and specific machinery, etc. The facility would enable textile machinery and other capital goods manufacturers to develop capital goods to meet the large requirements and improve capacity utilization, thereby reducing the variable cost of operation. This would also be established by a Special Purpose Vehicle (SPV) formed by local industries, industry associations, financial institutions, Central/State Governments, R&D Institutions, etc. 
 
Another component is creation of ‘Advanced Centres of Excellence’ for R&D and Technology Development with National Centres of Excellence in Education and Technology, such as the Indian Institute of Technology Delhi, the Indian Institute of Technology Bombay, the Indian Institute of Technology Madras, the Indian Institute of Technology Kharagpur and the Central Manufacturing Technology Institute (CMTI), Bangalore. 
 
Further, in order to help the capital goods industry to acquire and assimilate specific technologies, for achieving global standards and competitiveness within a short period of time, a ‘Technology Acquisition Fund’ is to be created under the Technology Acquisition Fund Programme (TAFP).
 
 


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