Tuesday 19 January 2021
- Advertisement -

Govt investing Rs 175 crore to enhance competition in capital goods sector

- Advertisement -
Politics India Govt investing Rs 175 crore to enhance competition in capital goods sector

New Delhi: The central government today approved 4 projects, further enhancing competitiveness in the Indian capital goods sector and giving impetus to the “Make in India” campaign of Prime Minister Narendra Modi. The government support in the form of grants of about Rs 175 crore will be given from a scheme of the Department of Heavy Industry titled ‟Enhancement of Global Competitiveness of Indian Capital Goods Sector”.

Launched in November 2014, the scheme has an outlay of Rs 975 crore including a grant component of Rs 580 crore.

The first project relates to a joint venture between the Union and Karnataka government. Under this, 500 acres of land has been earmarked for the first of its kind integrated machine tools park to be set up near the Japanese Park in NMIZ, Tumkur. The project cost of Rs 421 crore will be partially met from the Centre’s grant support of Rs 125 crore. The Government support will enable raising

The government support will enable raising the quality of industrial infrastructure to global levels. The park will house 117 machine tool units. When implemented fully, the park is expected to double Indian turnover of machine tools to Rs 9,000 crore with matching saving in imports and foreign exchange.

More than 1 lakh jobs in primary and secondary manufacturing sectors as well as in commercial and administrative areas will be created.

The uniqueness of the park is the global class of industrial infrastructure in plug-and-play model. A number of MSMEs as well as start-ups will come up, too, in the space reserved for them.

The initiative is expected to serve as an example and role model for global-level industrial facilities brought about by Centre-State cooperation. A major constraint faced by the industry relating to low-quality industrial infrastructure will thus be over.

The second project relates to setting up a welding technology “centre of excellence” at the PSG College of Technology, Coimbatore. To give a fillip to the quality and number of welding professionals required for ‘Make in India’, the PSG college has proposed to set up a modern welding technology centre in collaboration with major stakeholders like the Welding Research Institute, manufacturers of welding equipment and products, FICCI etc.

The centre will support Indian manufacturers by providing the latest technologies developed for homemade welding machine tools, consumables and locally trained manpower particularly in high-end welding jobs required by strategic sectors. The total budget excluding land and building (to be provided by the PSG college) is estimated to be Rs 26.7 crore. Out of this, the government will provide Rs 21.10 crore and the rest will be provided by the industry and the institute.

The third approval has been given to HMT Machine Tools Limited, a PSU, which pioneered setting up and growth of machine tool industry in India. HMT is modernizing its product portfolio through this proposal by manufacturing latest lathe and turning mill centre. For this, they are collaborating with Fraunhofer of Germany, the leading industrial technology development institute of the world. As a result, HMT will be in a position to supply most modern and latest range of machines to the Railways, defence, shipping, aviation, aerospace etc. A grant of Rs. 1.54 crores will be given to the company. This will be the first step by the company towards technology modernization.

The fourth proposal is from Heavy Engineering Corporation Limited (HEC), Ranchi, a central PSU in the area of manufacture of heavy engineering equipment. Set up in collaboration with the then USSR, the HEC remains the premier PSU making heavy engineering equipment, with few parallels in the world.

Under the present approval, HEC has collaborated with CNIITMASH, a Russian government industrial technology research institute. The importance of the collaboration lies in the fact that, after several decades, closely held and strategically significant technologies will again flow to the public sector in India. The proposal is for imparting training to 1,350 engineers in 3 years in the latest technologies relating to electro-slag remelting, welding, gearbox manufacturing and non-destructive testing. The project size is envisaged at Rs 50 crores, out of which the Government component will be Rs.30 crores, which will be given to the Russian institute for their knowledge support in creating the four training centers. HEC will sign MoU with other stake holders units and run nine courses for the benefit of Indian manufacturing sector. Once implemented, the trained persons will be involved in manufacturing steel, welding, gear box and NDT saving crores of precious foreign exchange.

The proposal is for imparting training to 1,350 engineers in 3 years in the latest technologies relating to electro slag re-melting, welding, gearbox manufacturing and non-destructive testing. The project size is envisaged at Rs 50 crores, out of which the government component will be Rs 30 crores, which will be given to the Russian institute for their knowledge support in creating the four training centers.

HEC will sign MoU with other stakeholders units and run 9 courses for the benefit of Indian manufacturing sector. Once implemented, the trained persons will be involved in manufacturing steel, welding, gear box and NDT saving crores of precious foreign exchange.

- Advertisement -

Views

- Advertisement -

Related news

- Advertisement -

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: