The Ministry of Heavy Industries has launched the second phase of its “Enhancement of Competitiveness in the Indian Capital Goods Sector” scheme, with a financial outlay of ₹1,207 crore. The scheme includes ₹975 crore in budgetary support from the government and ₹232 crore in contributions from the industry.
Key objectives of the initiative include fostering a competitive capital goods sector, creating a self-sustaining ecosystem for manufacturing technology research and innovation, and promoting smart manufacturing and Industry 4.0 technologies. The program also aims to enhance workforce skills and promote the indigenization of capital goods technologies.
Phase I of the scheme was evaluated by a committee chaired by S. Chaudhary, Director of IIT-Jodhpur. The evaluation noted that while the first phase partially addressed the sector’s technological and infrastructural needs, scaling up the initiative would significantly benefit the broader capital goods industry.
Phase II of the scheme was officially notified on January 25, 2022, to build on the progress achieved in the first phase. This information was provided in a written statement by Bhupathiraju Srinivasa Varma, Minister of State for Heavy Industries and Steel, during a parliamentary session.