Launch of National Policy on Capital Goods is a major step forward for the capital goods sector and has been framed with extensive consultations with the industry, said Mr Vishvajit Sahay, Joint Secretary, Department of Heavy Industry. He was speaking at the conference on Championing Manufacturing in India organized by Confederation of Indian Industry at New Delhi today.
Elucidating further on the policy, the Joint Secretary apprised that post the launch the government is actively working on the formulation of the road map for the implementation of the policy recommendations. To address the weakness of the various sectors and sub sectors of engineering the government is formulating the required interventions in terms of schemes, he added.
As a fall out of the policy announcement the ministry has also set up an inter-ministerial committee headed by Secretary DHI, which from time to time will look at the various taxation issues emerging in the various sectors, he informed. He also emphasized on the need for more schemes with PPP and support from the industry in evolving the schemes and implementing them efficiently.
Speaking on the demand both domestic and international, Mr Vipin Sondhi, MD & CEO, JCB India, said that Infrastructure development was critical for Make in India and would be the driver of demand. On the frugal engineering front, Mr Sondhi apprised of the JCB’s endeavor in past 30 years in creating products which are more robust and cost effective technologies and are being exported to around 60 countries including developing and developed countries. He emphasized on the development of research institutions with greater industry role in ensuring industry –academia connects. He also emphasized on the need for a robust IPR regime and a legal system to protect this IPR.
Highlighting the fact that India has huge opportunity in the area of technology and innovation, Mr M.S. Unnikrishnan, MD & CEO Thermax emphasized on enhancing spending on technology development. For creating technologies suitable to Indian context he stressed on developing unique kind of collaborations in which technology institutes such as IIT’s work with industry to develop the relevant technologies.
Speaking on the future of solar projects which has emerged as a promising area, Mr M K Sharma, Executive Director (Project Management & Contract Closing), BHEL expressed his confidence in the take-off of the solar projects with the company taken up a number of solar projects.
Emphasizing on the technology development, Mr Nalin Shinghal, Chairman and Managing Director, Central Electronics Ltd. emphasized on the need for shifting on newer technologies to support manufacturing and focusing more on technology development.
On the competitiveness of the Indian manufacturing Mr N V Venkatasubramanian, Chief Executive, L&T said that while India is viewed as low cost destination, for India to emerge as a global technology player there is a need for continuous value addition and bringing in engineering and operational excellence in the critical sectors. He suggested on creating sector specific taskforce and specific interventions in a time bound manner for achieving the targets.
Underlining the fact that MSME’s remain the backbone of manufacturing, Mr Banmali Agrawala, President & CEO, GE South Asia pointed out that without the development of a strong value and supply chain supported by MSME, India would not be competitive. Mr Agrawala also emphasized that development of frugal and affordable technologies for which India has the mindset will be important in developing unique products and differentiating ourselves while competing for the export pie.
Mr Niju V director, Forst and Sullivan stressed on the need for look at the specific champion industries and chalk out a policy for acquiring funds for the development of these industries.
Ms Mehak Khasbekar, National Editor, Infrastructure & transport, Bloomberg TV moderated the session.
6 May 2016