The Government has approved five projects and granted Rs 175 crore for enhancement of global competitiveness of Indian Capital Goods Sector. Under the first project 500 acres of land has been earmarked for Integrated Machine Tools Park in Tumkur in which space will be reserved for number of MSMEs as well as start-ups.
Government of India on February 1 approved five projects leading to further enhancement in the competitiveness of the Indian Capital Goods Sector and giving impetus to the Make in India campaign of the Prime Minister.
The Government support in form of grant 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 grant component of Rs 580 crore.
A number of MSME as well as start-up will also come up in the space reserved for them. The initiative is expected to serve as an example and role model for global level industrial facilities amidst centre-state cooperation. A major constraint faced by the industry relating to low quality industrial infrastructure, will thus be over.
The first project relates to a joint venture between Government of India and Government of Karnataka. 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 Government of India grant support of Rs 125 crore. The Government support will enable raising quality of industrial infrastructure to global levels.
The park will house 117 machine tools units. When implemented fully, the park is expected to double Indian turnover of machine tools to Rs.9000 crore, with matching saving in imports/ forex. More than one lac jobs in primary and secondary manufacturing sectors as well as in commercial/ administrative arena will be created. The uniqueness of the park is the global class of industrial infrastructure in plug and play model.
The second project relates to setting up a welding technology Centre of Excellence in PSG College of Technology, Coimbatore. In order to give fillip to the quality and numbers of welding professionals required for ‘Make in India’, PSG has proposed to set up a modern welding technology centre of excellence in collaboration with major stake holders like Welding Research Institute, Manufacturers of welding equipment/ products and FICCI etc.
The Centre of Excellence will support Indian manufacturers by proving latest technologies developed by the Centre for home -made 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 PSG) 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.
Source: Business Standard with PIB Inputs
