National Policy on Capital Goods
Goods can be largely classified in two types; capital goods and consumer goods. This classification is based upon how the goods are used. A capital good is any good deployed to help increase future production. "Capital Goods” sector comprises of plant and machinery, equipment / accessories required for manufacture / production, either directly or indirectly, of goods or for rendering services, including those required for replacement, modernization, technological upgradation and expansion. It also includes packaging machinery and equipment, refrigeration equipment, power generating sets, equipment and instruments for testing, research and development, quality and pollution control.
Capital goods sector contributes greatly towards the development of the country. It sometimes called as an engine of growth. Initial five year plans focused on the heavy goods industries. At present capital goods sector contributes 12% to the total manufacturing activity.Capital goods sector has a market size of INR 2,50,000 Cr in 2013–14 and a domestic production of close to INR 1,92,000 Cr. The sector is estimated to grow to a market size of approx INR 4,65,000 Cr in 2016–17 with domestic production of approx INR 4,00,000 Cr. Non only it is a major contributor in market size, it is also a major employer of the people. At present more than 13 lakh people are employed in the capital goods industries. This sector has also seen great growth in recent years, it has grown at the rate of 15% per annum over the last decade. This sector is also a good contributer of the exports from India.
Capital goods sector contributes over Rs 52000 crore in 2013-14. Exports from capital goods sector have significantly grown over last few years. Amongst the sub-sectors, heavy electrical equipment and power plant equipment also drive exports, recording export revenues close to INR 30,000 Cr in 2013-14 growing at a rate of 18% per annum. Some of the sectors among the capital goods sector contribute largely in the overall contribution of the capital goods. Heavy electrical and power plant equipment is the largest sub-sector contributing to approx 65% of total capital goods requirement. Other large sub-sectors include construction equipment, process plant equipment and dies and moulds. http://iasexamportal.com/civilservices/magazine/csm/june-2016/national-policy-on-capital-goods?utm_source=dlvr.it&utm_medium=facebook
Goods can be largely classified in two types; capital goods and consumer goods. This classification is based upon how the goods are used. A capital good is any good deployed to help increase future production. "Capital Goods” sector comprises of plant and machinery, equipment / accessories required for manufacture / production, either directly or indirectly, of goods or for rendering services, including those required for replacement, modernization, technological upgradation and expansion. It also includes packaging machinery and equipment, refrigeration equipment, power generating sets, equipment and instruments for testing, research and development, quality and pollution control.
Capital goods sector contributes greatly towards the development of the country. It sometimes called as an engine of growth. Initial five year plans focused on the heavy goods industries. At present capital goods sector contributes 12% to the total manufacturing activity.Capital goods sector has a market size of INR 2,50,000 Cr in 2013–14 and a domestic production of close to INR 1,92,000 Cr. The sector is estimated to grow to a market size of approx INR 4,65,000 Cr in 2016–17 with domestic production of approx INR 4,00,000 Cr. Non only it is a major contributor in market size, it is also a major employer of the people. At present more than 13 lakh people are employed in the capital goods industries. This sector has also seen great growth in recent years, it has grown at the rate of 15% per annum over the last decade. This sector is also a good contributer of the exports from India.
Capital goods sector contributes over Rs 52000 crore in 2013-14. Exports from capital goods sector have significantly grown over last few years. Amongst the sub-sectors, heavy electrical equipment and power plant equipment also drive exports, recording export revenues close to INR 30,000 Cr in 2013-14 growing at a rate of 18% per annum. Some of the sectors among the capital goods sector contribute largely in the overall contribution of the capital goods. Heavy electrical and power plant equipment is the largest sub-sector contributing to approx 65% of total capital goods requirement. Other large sub-sectors include construction equipment, process plant equipment and dies and moulds. http://iasexamportal.com/civilservices/magazine/csm/june-2016/national-policy-on-capital-goods?utm_source=dlvr.it&utm_medium=facebook
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