Government notifies phase 2 of the scheme to boost competition in capital goods sector

The overall financial outlay will include budgetary support from the government 975 crores and the rest In a statement issued by the Ministry of Heavy Industries on Friday, it has been said that the contribution of the industry will come to Rs 232 crore. It added that the scheme was notified on Tuesday, January 25.

“Phase II of the Plan for Increasing the Competitiveness of the Capital Goods Sector aims to expand and expand the impact created by the Phase I pilot scheme, thereby providing greater impetus through the creation of a stronger and globally competitive capital goods sector.” which contributes at least 25% to the manufacturing sector,” it said.

The scheme includes identification of technologies through technology innovation portals, establishment of four new advanced centers of excellence and augmentation of existing centers of excellence, promotion of skills in the capital goods sector – creation of qualification packages for skill level 6 and above shall include.

This will include setting up of four Common Engineering Facility Centers (CEFCs) and expansion of existing CEFCs as well as augmentation of existing testing and certification centers and setting up of ten industry accelerators for technology development.