In a major push to strengthen India’s capital goods and manufacturing base, Finance Minister Nirmala Sitharaman on Saturday announced a series of initiatives aimed at boosting domestic production of high-value industrial equipment.
Towards building capacity for strong capital goods, the Finance Minister proposed the establishment of high-tech toolrooms to enable the manufacturing of high-precision components at scale and at lower costs. These toolrooms are expected to support MSMEs and large manufacturers alike by improving access to advanced manufacturing technologies and skilled manpower.
In addition, Nirmala Sitharaman announced the introduction of a new scheme for the enhancement of construction and infrastructure equipment, aimed at strengthening domestic production of high-value capital and infrastructure equipment (CIE). The scheme is expected to reduce import dependence and improve India’s competitiveness in global infrastructure and construction supply chains.
Further, the Finance Minister proposed a container manufacturing scheme, with an allocation of ₹10,000 crore over five years, to promote indigenous production of shipping containers. The move is expected to support logistics, trade, and export sectors, while reinforcing India’s ambition to emerge as a global manufacturing hub.