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Economy, Schemes & Policies
Mahesh

30/06/22 12:54 PM IST

Scheme for Enhancement of Competitiveness in the Capital Goods Sector Phase II

In News 
  • The Ministry of Heavy Industries (MHI) and the Ministry of Skill Development and Entrepreneurship (MSDE) signed a Memorandum of Understanding (MoU) to create a collaborative ecosystem for imparting skill development training in the capital goods sector. 
About the Scheme 
  • The objective of Phase II of the Scheme is to expand and enlarge the impact created by the Phase I pilot scheme, thereby providing greater impetus through creation of a strong and globally competitive capital goods sector that contributes at least 25% to the manufacturing sector.
  • 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 scheme has a financial outlay of Rs. 1207 crores with Budgetary support of Rs.975 crore and Industry Contribution of Rs. 232 crore .
  • Under the scheme, to cater for futuristic industrial requirements, a new component for promotion of skilling in Capital Goods Sector through creation of Qualification Packs for Level 6 and above has been introduced. 
  • Under this initiative, MHI shall provide 100% funding support to MHI Sector Skill Councils (SSCs) for development of new Industry Led National Skills Qualifications Framework (NSQF) Level 6 and above Qualification Packs (QPs). 
Source- PIB 

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