Despite of several industrial policies presenting a favouring envionment, the capital goods sector is witnessing slow growth for many years. Discuss critically in the light of Draft National Capital Goods Policy 2015.
Hint: Capital goods industry in India suffered inadequate growth since independence mainly due to inadequate growth of domestic market, inadequate capacity expansion in infrastructure and power industries, permission to import second-hand machinery discouraged the domestic production and low technology depth in country.
Draft National Capital Goods Policy of India 2015 to unlock the potential by framing policies for expanding the capital goods market, providing Technology Upgrade Fund Support, enabling skill development by setting councils, creating a level playing field for domestic manufactures and mitigating imports.
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