Government Announces Push for Capital Goods Production in India

  • The Indian government is set to ramp up domestic production of capital goods.
  • This initiative aims to expand an existing capital goods promotion scheme.
  • The scheme currently focuses on electrical components and auto manufacturing.
  • The government plans to include sectors like pharmaceuticals and textiles.
  • This expansion seeks to bridge the skill gap and address infrastructure needs in capital goods production.
  • The initiative could create more jobs and boost India's manufacturing capabilities.
  • Analysts suggest this is a positive step towards greater self-reliance in crucial industrial equipment.

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