Comments
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 ₹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 ₹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 ₹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.
Further development will take place as and when there is demand, and the Cabinet has decided to set up such centres in every State.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.