Business Ideas Information

The deficits in the current and trade account has now compelled the
Indian government to execute the Research and Development activities in
the Capital Goods Sector. The implementation of the R & D techniques
will further lessen India’s dependence on foreign goods; thereby
allowing the nation to produce goods for self-consumption and exporting
the remainder to the foreign countries. The article below dwells on the
same.

To make the Capital goods Sector a competitive
segment, the government has finally decided to implement the Research
and Development techniques in that segment. It further mentioned that
the implementation of the scheme would reduce India’s dependence on
foreign exports. The highlights of the R&D program would be the
upgradation of the existing of the current technology and the
acquisition of new assets. Currently, the Capital goods Sector
contributes around 12% of the total manufacturing activity. Thus, the
importance of the segment, towards the overall growth of the nation, can
never be minimized. NCP Leader Praful Patel, who looks after the
proceedings of the Heavy Industries emphasized on banning the use of
Chinese products in India. In his recent interaction with the media,
Patel said that India must ban the use of Chinese goods in the nation.
He further added that in case there was a standoff with China, India
would be on the losing side as it would be difficult to find the exact
substitute of the spare parts, produced in China. Tracing the relation
between the Heavy Industries and the Capital Goods sector, more than 14
lakh individuals are employed under this segment. However, it still
believes that it yet to get all the necessary assistance by the Indian
government per se its development. India has a mammoth in-house domestic
industry. Still, for some reason or another, the nation is dependent on
countries like China and South Korea, in its power sector and textiles.

Keeping in mind the case of the Capital Goods Sector, Heavy
Industries Minister Praful Patel mentioned that India needs to keep a
check on its non-oil imports to the country. It would not be wrong to
say that this segment of this Industry had a roller coaster ride, last
year. While the sales skyrocketed in one quarter, they gradually dipped
in the following one. Thus, it becomes more than mandatory to monitor
the proceedings of this industry, from time to time. In accordance with
the scheme, Patel had also made way for the National electric Mobility
Mission Plan (NEMMP) 2020 in January 2013 that would reduce India’s
dependence on foreign nations for fuel. Furthermore, it would also lead
to the production of zero emission electric vehicles in India. This
would further help in making the country, an environment friendly one.
The whole scheme was finally brought to life when Bangalore launched its
first zero emission electric bus last week. The bus would be running
upto 250 kms, after it has been charged for 6 hours. The officials who
launched the bus said that the vehicle was still in its testing phase
and that it will only run along the airport route at the moment. If
things work out the way they have been planned, the vehicle will be
launched across the whole country, after a period of 3 months.