National Capital goods policy

15th Feb, 2016

National Capital goods policy

Under Ministry of Heavy Industries & Public Enterprise.

Capital Goods Definition:

Goods that are used in producing other goods, rather than being bought by consumers.

Policy:

Objective of increasing production of capital goods from Rs. 230,000 Cr in 2014-15 to Rs. 750,000 Cr in 2025 

Raising direct and indirect employment from the current 8.4 million to 30 million. 

The policy envisages increasing exports from the current 27% to 40% of production while increasing share of domestic production in India's demand from 60% to 80%, thus making India a net exporter of capital goods. 

To strengthen the existing scheme of the DHI (Department of Heavy Industry) on enhancement of competitiveness of Capital Goods sector by increasing budgetary allocation

Enhancing the export of Indian made capital goods through a ‘Heavy Industry Export & Market Development Assistance Scheme (HIEMDA)’.

Launching a Technology Development Fund, upgrading existing and setting up new testing & certification facility

Making standards mandatory in order to reduce sub-standard machine imports