Home / Politics / News /  Rs2,360 cr scheme proposed for capital goods sector

New Delhi: The Department of Heavy Industry has proposed a Rs2,360 crore scheme under which modern industrial parks and technical support, among other things, would be provided to the capital goods industry with a view to reducing import dependence in the long-run.

The department handles 19 sub-sectors of capital goods sector, including electrical equipment, boilers, turbines and transformers.

“The scheme proposes to set up modern, common facility centres and sector-specific industrial cluster parks and R&D support to industries. It would be implemented in the 12th five-year plan (2012-17)," the official said.

The proposal is in line with the government’s initiative to reverse the trend of rising import dependence and increase the contribution of manufacturing sector to country’s GDP to 25% from 16%, at present.

The official said the feasibility study for the scheme would be done by the end of the second quarter of 2012-13.

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