Rs. 20,000-cr boost for small units in capital goods sector - Feedback

Taking what is seen as first step towards the ‘Made in India’ concept announced by Prime Minister Narendra Modi, the Government on Monday announced a Rs. 20,000-crore scheme for enhancing competitiveness of small and medium enterprises in the capital goods sector. Under the scheme approved by the Cabinet, the first phase, with an outlay of Rs. 930 crore, will focus on development of specified technologies.

Under phase-I, special centres for textile, machine tools and auto will be set up in Surat, Bangalore, and a city in Punjab respectively. “The outlay approved for phase-I was for two-and-a-half years. The Government will provide Rs. 581.22 crore (80 per cent), while the remaining will be provided by the industry. The same mechanism will be applied for the entire scheme to be implemented over a period of time,” Heavy Industry Minister Anant Geete told reporters here.

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