CAPITAL GOODS SECTOR MEET HEAVY INDUSTRY MINISTER
The Minister of Heavy Industries
and Public Enterprises along with the Minister of State, Secretary,
Heavy Industries and senior officials of Government of India met
the captains of the Capital Goods Industry in a meet organized
by CII here today. The Minister shared the concern of the Ministry
at the declining trend of growth witnessed during the last 3-4
years. The meeting reviewed the present status of the industry
including the problems faced in the context of liberalization
and steps required for sustainable growth. The Minister felt that
the issues confronting the industry are two fold; one relates
to certain disadvantages on account of infrastructural constraints,
high cost of finance, inadequate investments, obsolescence of
technology etc. while the other relates to in-house constraints
faced by the industry viz. low productivity of labour, quality,
contemporary technology etc. He stressed the need for productivity
and quality improvement and for giving greater thrust on export.
He called for joint and collective efforts for this.
The Minister agreed to set up a Joint
Working Group to be formed between the Government and the industry
for regular interaction to remove impediments to industrial growth.
He also advocated setting up of a joint export cell, organizing
a joint international seminar and also to consider ways of joint
funding of R&D programmes. He announced setting up of an inter-ministerial
coordination committee under the Chairmanship of Secretary, Heavy
Industries for resolution of issues concerning various Ministries.
Shri B.N.Jha, Secretary (Heavy Industries
and Public Enterprises) highlighted the need for strengthening
partnership between the industry and the Government in the new
economic regime. He suggested that industry should look at positive
factors prevailing in the country like low cost inputs, lower
labour cost, strength in IT sector, wide range of manufacturing
capability etc. The Indian products could carry not only "Made
in India" mark by also "Thought in India" mark. He emphasized
the need to take advantage of shifting of manufacturing bases
globally and be ready to have a good share of manufacturing relocation
globally. He highlighted the need to have a strategic approach
to make India a manufacturing base for select industrial commodities.
Speaking on the occasion, Minister
of State, Dr. Kathiria suggested setting up of a task force to
resolve policy related issues including duty structure, funding
for R&D programmes etc. for development and growth of the
industry. He also suggested setting up of a suitable mechanism
by CII to have regular interactive programmes with leading global
manufacturers of repute for exchange of information on technology,
processes and marketing to provide necessary boost to the Capital
Goods Industry.
