NEW DELHI: The government on Monday unveiled the first-ever policy for the country's capital goods sector which envisages the creation of 21 million additional jobs by 2025.
The policy envisions increasing the share of capital goods in total manufacturing activity from 12% at present to 20% by 2025.
"The capital goods policy was cleared by Prime Minister Narendra Modi last week," Union Heavy Industries Minister Anant Geete told PTI.
The objectives of the National Capital Goods Policy are to create an ecosystem for a globally competitive capital goods sector to achieve total production in excess of Rs 7.5 lakh crore by 2025 from the current Rs 2.3 lakh crore.
It also aims to increase direct domestic employment from the current 1.4 million to at least 5 million and indirect employment from the current 7 million to 25 million by 2025, thus providing additional employment to over 21 million people.
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