Govt sets up 22-member inter-ministerial panel for strengthening capital goods sector

The government has set up a 22-member inter-ministerial committee to  look into ways of strengthening the capital goods sector through interventions that help the sector in contributing more actively in the national goal of achieving a $5 trillion economy and a $1 trillion manufacturing sector.

Announcing this, minister for heavy industries and public enterprises, Prakash Javadekar expressed happiness and said the committee will work out ways and means to make the capital goods sector globally competitive and helop the country become the manufacturing hub for the world.
“Happy to inform that we have set up an inter-ministerial committee to strengthen the capital goods sector, through interventions that help the CG sector in contributing more actively towards the national goal of achieving a $1 trillion manufacturing sector,” he tweeted,
Initiatives in the capital goods sector require in depth consultations and deliberations with all concerned ministries / departments on a regular basis. Hence the proposed inter-ministerial committee (IMC) is being constituted with representation from all concerned ministries / departments,
The IMC will help the Department of Heavy Industries in taking a holistic view of all issues pertaining to the CG Sectorsm the minister stated.
The committee will look into on all such issues pertaining to the capital goods sector, including technology development, mother technology development, global value chains, testing, skill training, global standards, reciprocity issues, custom duties etc to make this sector globally competitive and to become the manufacturing hub for the world. The committee may also look into any other relevant issue pertaining to the capital goods sector brought before it with prior approval of the chairman.
The inter-ministerial committee (IMC) under the chairmanship of secretary, DHI with representation at sufficiently senior level officers from the concerned ministries/departmentsis proposed to meet quarterly. Any other department or expert as required may also be invited by the chair.
Besides the chairman, IMC for the capital goods sector will have joint secretary in DHI (in charge of the CG sector, ie, heavy engineering and machine tools division), joint secretary, DHI (heavy electricals industry/auto divisions, Adviser (Industries), NITI Aayog, Director General, BIS, CEO, NSDC, joint secretary, Department of Revenue, joint secretary, Department of Commerce, joint secretary, Department of Industrial Policy and Promotion, joint secretary, MIETY, joint secretary, MSME, joint secretary, Department of Chemicals and Petrochemicals, sint secretary, joint secretary, ministry of coal, joint secretary, ministry of textiles, joint Secretary, ministry of  road transport and highways, joint Secretary in the ministry of steel, joint secretary in the ministry of food processing, joint secretary in the Department of Fertilisers, joint secretary in the  ministry of power, joint secretary in the ministry of petroleum and natural gas, DDG, DGFT as members.