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 Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group’s Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence’s long-term commitment to the Indian market and its support for the Indian Government’s Make in India initiative. The partnership’s current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the “Vulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company’s growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association’s industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States’ share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?