Guwahati: Ministry of Heavy Industries (MHI) has signed an MoU with the National Research Development Corporation (NRDC) for undertaking various activities for smooth implementation of the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector in the presence of  Dr. Mahendra  Nath  Pandey, Union Minister of Heavy Industries and  Secretary, MHI, Shri Arun Goel here.

The MoU was signed by the CMD of NRDC, Commodore Amit Rastogi (Retd) of NRDC, and Shri Vijay Mittal, Joint Secretary of MHI. According to the MoU, NRDC will execute activities such as scheme assessment and review, intellectual property rights management, and commercialization support for goods created under Capital Goods Scheme Phases I and II on behalf of MHI.

Speaking at the event, Dr. Pandey stated that Prime Minister Narendra Modi presented a mantra of Atmanirbhar Bharat with a vision and goal to put the Indian economy on the wheel of rapid growth, and this MoU would undoubtedly help us achieve that. He went on to say that the goal of this MoU is to make India a worldwide powerhouse for capital goods production.

It should be mentioned that on January 25, 2022, the Ministry of Heavy Industries notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure. The project has a financial outlay of Rs. 1207 crores, with budgetary assistance of Rs.975 crore and industry contribution of Rs.232 crore, to expand and amplify the impact of Phase I of the Capital Goods Scheme, hence giving additional impetus via the building of a robust and internationally competitive capital goods sector.