Under Planning Commission's“Manufacturing Plan”, the central government is likely to earmarkRs 2,360 crorein the 12th five-year plan (2012-17).
Under the plan, government would provide R&D and technology support, common facility support, skill development and interest subvention. The Manufacturing Plan proposes policies and technology support in order to provide a level playing field to domestic manufacturers vis-à-vis foreign companies.
The aim is to enhance growth, global competitiveness and reduce import dependence. It also envisages common facility and product development centres in and around capital goods industrial clusters.
Additionally, the government has also set up development councils for important sectors like machine tools, textile machines and heavy electrical equipment.
A feasibility study for the planned scheme was prepared during the 11th Plan, but the financial approval was deferred to the current Plan period.