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Govt to infuse Rs 1364 Crores to boost competitiveness in capital goods sector

By TIOL News Service

NEW DELHI, DEC 09, 2023: THE Ministry of Heavy Industries notified the Scheme for “Enhancement of Competitiveness in The Indian Capital Goods Sector- Phase-II” with financial outlay of Rs. 1207 crores, budgetary support of Rs.975 crore and minimum Industry Contribution of Rs.232 crores. There are five main components under the Scheme. The component wise budgetary details are as under:

 

(Amount in Rs crores)

S.N.

Scheme Component

No of projects sanctioned

Total Project Cost

Total Govt. contribution

Total Industry Partner contribution

GoI contribution released till date

Industry contribution till date

1

Setting up of New Advanced Centres of Excellence and augmentation   of Existing Centres of Excellence.

9

478.89

329.29

149.60

42.52

10.63

2

Setting up of Common Engineering Facility Centres (CEFCs) and  augmentation of existing CEFCs

5

357.07

207.62

149.45

72.56

18.14

3

Augmentation of existing Testing and Certification Centres

7

195.99

155.04

40.95

93.77

23.44

4

Setting up of Industry Accelerators

8

324.33

261.09

63.24

108.63

27.16

5 Promotion of skilling in Capital Goods Sector– creation of skilling packages for skill levels 6 and above 3 7.59 7.59 0 1.01 0
  TOTAL 32 1363.87 960.63 403.24 318.49 79.37

The status of the projects sanctioned under the CG Scheme is as under:

S.N.

Scheme Component

No of projects sanctioned

1

Setting up of New Advanced Centres of Excellence and augmentation   of Existing Centres of Excellence

9

2

Setting up of Common Engineering Facility Centres (CEFCs) and  augmentation of existing CEFCs

5

3

Augmentation of existing Testing and Certification Centres

7

4

Setting up of Industry Accelerators

8

5

Promotion of skilling in Capital Goods Sector– creation of skilling packages for skill levels 6 and above

3

 

TOTAL

32

A total of 32 projects with total project cost of Rs 1363.87 crores (due to higher contribution by Industry) have been sanctioned so far under the Phase-II of the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector.

A total of Rs. 197.4998 crores was released by MHI for the projects under CG Scheme Phase 2 during the Fiscal Year 2022-23.

This information was given by the Minister of State for Heavy Industries, Mr Krishan Pal Gurjar , in a written reply in Rajya Sabha today.

 


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