“The capital goods sector is key to India’s global manufacturing capacity for which import substitution of critical components holds a lot of economic prosperity pushing India towards global leadership during its Amrut Kaal,” said Union Minister for Heavy Industries Mahendra Nath Pandey has said.
Dedicating the Capital Goods Accelerator and Training Centre at Sastra, the Minister pointed out a huge potential for ₹1.5-lakh crore import substitution in the capital goods sector. Such centres in various locations all over India shall achieve at least ₹25,000 crore reduction in imports with a potential for further savings.
The centre at Sastra is established at a cost of ₹40 crore with 80 per cent funding from MHI and 20 per cent from industry partners. This centre focuses on emerging technologies like AR/VR, IIoT, Robotics, 3D and 4D printings, drones and electronics manufacturing. The Minister also soft launched a reverse propulsion wheel chair and semi-automatic tender coconut processing line developed under this project.
The Joint Secretary of MHI Vijay Mittal and Sastra Vice-Chancellor S Vaidhyasubramaniam also participated in this event organised at Sastra campus in Thanjavur on Tuesday.