India has set a target of raising the size of the capital goods Sector from Rs. 2.30 lakh crores in 2014-15 to Rs.7.5 lakh crore in 2025, raising direct and indirect employment to 30 million from 8.4 million at present.
According to Secretary in the Department of Heavy Industry, India has set a target of raising the size of the capital goods sector from Rs. 2.30 lakh crores in 2014-15 to Rs.7.5 lakh crore in 2025, raising direct and indirect employment to 30 million from 8.4 million at present.
Exports must also account for 40 per cent of engineering goods production from 27 per cent at present, Secretary Dr. Asha Ram Sihag said while addressing ‘India Investment Meet’ at the International Engineering Fair (MSV) at Brno, in Czech Republic, on October 8, 2019.
Addressing global companies and Technology heads, Dr. Sihag briefed them on how India figures prominently on the investment radar of the top Czech companies.
He said that Volkswagen Group is investing 1 billion Euros in the implementation of its project in India for developing new models, including a mid-size SUV to be showcased in 2020. Importantly, the Technical development of new products will take place in India.
The Skoda group transportation has also developed hybrid vehicles and electric buses with the announcement of e-vehicles policy of Department of Heavy Industry. It holds specific interest for India in technology transfer and product development in the e-vehicle Market, Dr. Sihag said, underscoring how the country is focusing on green fuel-driven Automobile.
Ambassador to Czech Republic, Narinder Chauhan said that India is seeking foreign investment particularly in the high tech areas and further strengthening its manufacturing under the flagship ‘Make In India ‘ programme.