Union Ministry of Heavy Industries on Tuesday notified guidelines of Phase II of the scheme to enhance competitiveness in the Indian Capital Goods Sector to encourage technology development and infrastructure creation.
The scheme on ‘Enhancement of competitiveness in the Indian Capital Goods Sector’ was notified in November 2014 to encourage technology development and infrastructure creation.
The objective of Phase II is to expand and enlarge the impact created by the Phase I pilot scheme to provide greater impetus by creating a strong and globally competitive capital goods sector that contributes at least 25 per cent to the manufacturing sector, the notification says.
The components under the Scheme for Enhancement of Capital Goods Sector Phase II include identification of technologies through Technology Innovation Portals - Six Web-based open manufacturing technology innovation platforms developed by CPSEs namely BHEL, HMT, autonomous bodies namely CMTI and ARAI; centre under autonomous body- iCAT and educational and research institution namely IIT Madras under the CEFC component of phase I of the scheme.
The idea is to bring the country‘s technical resources and the industries on to one network to kick start and facilitate the identification of technology problems faced and systematically crowdsource solutions to facilitate start-ups and angel funding of Indian innovations. These platforms will identify technological solutions to the issues and challenges posed by the industry.
The components also include setting up four New Advanced Centres of Excellence and augmentation of Existing Centres of Excellence. The advanced CoEs shall fulfil the needs of the development of high risk futuristic technological products like high tech machine tool aggregates, controls, guides, motors, high precision components, hydraulics, high tech textiles machines, electronic parts and other strategic mother technologies, including those identified through technology and Innovation platforms that are indigenously required by the Capital Goods Sector, the notification said.
N. Ramesh Babu, V Balaraman Institute Chair and head of Department of Mechanical Engineering, told BusinessLine that IIT Madras has already set up the Advanced Manufacturing Technology Development Centre, one of the manufacturing open technology platforms under the scheme. This was finalised in the last one year and industry people can come into this and pose their problems with students and experts for a solution. Anybody can come forward to solve the problem, he said.
According to the Centre, the total Funds utilised under the Scheme on ‘Enhancement of Competitiveness in Indian Capital Goods Sector’ in the financial year 2020-21 is ₹54.22 crore.