The government on Monday has revealed the first – ever policy for the capital goods sector of the country. This has also increased the hope of creating more jobs.
According to a report, government is planning to create 21 million of additional jobs by 2025. With this announcement share of capital goods in total manufacturing activity will increase from 12 percent to 25 percent by 2025.
Notably, the main objective of this policy is to create an ecosystem for a globally competitive sector of capital goods and to achieve the total production in excess of Rs.7.5 lakh crore by the year 2025 that is currently Rs 2.3 lakh crore.