Ministry of Heavy Industries has notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure, said a press release.
The scheme has a financial outlay of Rs 1,207 crore with Budgetary support of Rs.975 crore and Industry Contribution of Rs 232 crore. The scheme was notified on 25 January 2022.
The objective of Phase II of the Scheme for Enhancement of Competitiveness of the Capital Goods Sector is to expand and enlarge the impact created by Phase I pilot scheme, thereby providing greater impetus through the creation of a strong and globally competitive capital goods sector that contributes at least 25 per cent to the manufacturing sector.
( With inputs from ANI )
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