Government unveils maiden capital goods policy

Mumbai, Feb 15 (IANS) The central government on Monday unveiled a comprehensive national capital goods policy to address various challenges being faced by the sector.

“The clear objective of the national capital goods policy is of increasing production from Rs.230,000 crore in 2014-15 to Rs.750,000 crore in 2025 and raising direct and indirect employment from the current 8.4 million to 30 million,” said Heavy Industry and Public Enterprise Minister Anant Geete at the Make in India week being held here.

Geete unveiled the “national capital goods policy” at the event. The document is the maiden policy which has been framed specifically for the promotion of the capital goods sector.

Further, the minister called for adoption and acceptance of latest technologies to promote the sector.

The minister invited foreign companies and funds to India, by describing the country as the most secure investments destination with adequate manpower.

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