MHI, NRDC signs MoU for implementing Capital Goods scheme
ECONOMY & POLICY

MHI, NRDC signs MoU for implementing Capital Goods scheme

The Ministry of Heavy Industries (MHI) has signed a Memorandum of Understanding (MoU) with the National Research Development Corporation (NRDC) for smooth implementation of the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector.

The MoU had been signed in the presence of Dr Mahendra Nath Pandey, Minister of Heavy Industries and Secretary of MHI Arun Goel, Chief Managing Director (CMD) of NRDC, Commodore Amit Rastogi (retd) and Vijay Mittal, Joint Secretary on behalf of MHI signed the MoU.

According to the MoU, NRDC will conduct the activities like evaluation and review of the scheme, management of intellectual property rights and commercialisation support for the products developed under Capital Goods Scheme Phase-I and II, etc., on behalf of MHI.

Pandey said that to grow the Indian economy, PM Narendra Modi initiated the Atmanirbhar Bharat mission, and this MoU will help in achieving the mission.

He added that the vision of the MoU is to make India a global hub for the manufacturing of capital goods.

MHI announced the Scheme on Enhancement of Competitiveness in The Indian Capital Goods Sector - Phase-II for assisting in Common Technology Development and Services Infrastructure.

This scheme has a financial outlay of Rs 1,207 crore, with budgetary support of Rs 975 crore and an industry contribution of Rs 232 crore to grow the impact created by Phase-I of the scheme to provide a greater impetus by creating a strong and globally competitive capital goods sector.

Image Source

Also read: Ministry of Heavy Industries approves 2,877 charging stations

The Ministry of Heavy Industries (MHI) has signed a Memorandum of Understanding (MoU) with the National Research Development Corporation (NRDC) for smooth implementation of the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector. The MoU had been signed in the presence of Dr Mahendra Nath Pandey, Minister of Heavy Industries and Secretary of MHI Arun Goel, Chief Managing Director (CMD) of NRDC, Commodore Amit Rastogi (retd) and Vijay Mittal, Joint Secretary on behalf of MHI signed the MoU. According to the MoU, NRDC will conduct the activities like evaluation and review of the scheme, management of intellectual property rights and commercialisation support for the products developed under Capital Goods Scheme Phase-I and II, etc., on behalf of MHI. Pandey said that to grow the Indian economy, PM Narendra Modi initiated the Atmanirbhar Bharat mission, and this MoU will help in achieving the mission. He added that the vision of the MoU is to make India a global hub for the manufacturing of capital goods. MHI announced the Scheme on Enhancement of Competitiveness in The Indian Capital Goods Sector - Phase-II for assisting in Common Technology Development and Services Infrastructure. This scheme has a financial outlay of Rs 1,207 crore, with budgetary support of Rs 975 crore and an industry contribution of Rs 232 crore to grow the impact created by Phase-I of the scheme to provide a greater impetus by creating a strong and globally competitive capital goods sector. Image Source Also read: Ministry of Heavy Industries approves 2,877 charging stations

Next Story
Infrastructure Transport

GMLR’s First Flyover To Open By May 2026, Says BMC

The Brihanmumbai Municipal Corporation (BMC) has announced that the first flyover of the Goregaon–Mulund Link Road (GMLR) project will be ready for use by May 2026.The GMLR, one of Mumbai’s most ambitious infrastructure ventures, involves a 12.2-kilometre corridor comprising tunnels, flyovers, and interchanges, built at an estimated cost of Rs 140 billion. The project aims to provide a seamless connection between Mumbai’s western and eastern suburbs, drastically reducing travel time and congestion.The first phase features a 1.2-kilometre flyover, beginning near Dindoshi Court and extendi..

Next Story
Infrastructure Transport

Assam Awaits Nod For Rs 60 Billion Brahmaputra Tunnel

Assam’s ambitious Rs 60 billion underwater tunnel project, India’s first to be built beneath a major river, is awaiting Union Cabinet approval, according to a report by The Times of India. The proposed tunnel will connect Numaligarh and Gohpur under the Brahmaputra River, significantly improving road connectivity and strengthening strategic infrastructure near Arunachal Pradesh, which borders China.Estimated to take five years to complete, the project marks a major milestone in India’s transport and defence infrastructure planning. “The Detailed Project Report (DPR) is ready and will s..

Next Story
Infrastructure Energy

Kochi Set To Commission South India’s First Hydrogen Station

Kerala is gearing up to embrace the fuel of the future — green hydrogen, with South India’s first green hydrogen plant and refuelling station nearing commissioning on the Cochin International Airport (CIAL) premises. The project marks a major milestone in India’s clean energy transition and could soon power the Kochi Water Metro and selected e-feeder services of the Kochi Metro.The project is being implemented by Bharat Petroleum Corporation Limited (BPCL) in collaboration with CIAL, featuring a 1,000-kilowatt facility at Nedumbassery. BPCL has also finalised plans for a second hydrogen ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?