Government of India has recently approved five projects leading to further enhancement in the competitiveness of the Indian Capital Goods Sector and giving impetus to the Make in India campaign of the Prime Minister.

The Government support in form of grant of about Rs. 175 crore will be given from a scheme of the Department of Heavy Industry titled ‟Enhancement of Global Competitiveness of Indian Capital Goods Sector". Launched in November, 2014, the scheme has an outlay of Rs 975 crore including grant component of Rs 580 crore.

The first project relates to a joint venture between Government of India and Government of Karnataka. Under this, 500 acres of land has been earmarked for the first of its kind Integrated Machine Tools Park to be set up near the Japanese park in NMIZ, Tumkur. The project cost of Rs 421 crore will be partially met from the Government of India grant support of Rs 125 crore.

The Government support will enable raising quality of industrial infrastructure to global levels. The park will house 117 machine tools units. When implemented fully, the park is expected to double Indian turnover of machine tools to Rs.9000 crore, with matching saving in imports/ forex. More than one lac jobs in primary and secondary manufacturing sectors as well as in commercial/ administrative arena will be created.

The uniqueness of the park is the global class of industrial infrastructure in plug and play model. A number of MSME as well as start up will also come up in the space reserved for them. The initiative is expected to serve as an example and role model for global level industrial facilities amidst centre-state cooperation. A major constraint faced by the industry relating to low quality industrial infrastructure, will thus be over.

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