Government Notifies Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II

What is the news?

The Ministry of Heavy Industries (MHI) has notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure. 

What is the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector?

The scheme was notified by the Ministry of Heavy Industries (MHI) in 2014.

Objective: To encourage technology development and infrastructure creation in the Capital Goods Sector.

Phase II of Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector

Objectives:

Create a strong and globally competitive capital goods sector that contributes at least 25% to the manufacturing sector. 

Create a self-sustaining ecosystem for research and innovation for manufacturing technologies through the use of Technology Innovation Portals.

Enhancing the skills of the existing manpower and Provide infrastructure for testing quality of products 

Creation of common engineering infrastructure for MSMEs and promote  smart manufacturing in the Capital Goods sector.

Components of the scheme:

– Identification of Technologies through Technology Innovation Portals;

– Setting up of four New Advanced Centres of Excellence and augmentation of Existing Centres of Excellence

– Promotion of skilling in Capital Goods Sector–creation of Qualification packages for skill levels 6 and above

– Setting up of four Common Engineering Facility Centres (CEFCs) and augmentation of existing CEFCs;

– Augmentation of Existing Testing and Certification Centres;

– Setting up of ten Industry Accelerators for Technology Development.

Source: This post is based on the article ‘Government Notifies Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II’ published in PIB on 29th January 2022.