National Capital Goods Policy
The National Capital Goods Policy is a manufacturing sector policy devised by the Government of India aimed at increasing the production of capital goods from the 2014-15 value of approximately Rs.230, 000 Cr to Rs.750, 000 Cr by 2025. The policy also seeks to increase employment (both indirect and direct) from the present 8.4 million to approximately 30 million.
The National Capital Goods Policy also envisions raising exports from the existing value of 27 percent to 40 percent of the production. It also seeks to increase the part of home production in India’s demand from 60 to 80 percent, thereby making the country a net capital goods exporter. This policy also targets facilitating technology depth improvement in subsectors, enhance the availability of skill, ensure obligatory standards, and encourage the progress and capacity-development of Micro Small and Medium Enterprises. The Policy was framed with elaborate consultation with experts from academia, industry and various ministries.