Government Policies Current Affairs

Union Cabinet approves National Capital Goods Policy 2016

The Union Cabinet has given its approval for National Capital Goods Policy 2016 to give an impetus to the capital goods sector and the Make in India initiative.

This is first ever policy for Capital Goods sector framed by the Union Government (Ministry of Heavy Industry & Public Enterprise).

Key features of Policy

  • Objectives: (i) Increase production of capital goods from 2,30,000 crore rupees in 2014-15 to 7,50,000 crore rupees in 2025. (ii) Raise direct and indirect employment from the current 8.4 million to 30 million. (iii) Increase exports from the current 27% to 40% of production. (iv) Increase the share of domestic production in India’s demand from 60% to 80% to make India a net exporter of capital goods.
  • Aim of Policy: (i) Facilitate improvement in technology depth across sub-sectors, (ii) Ensure mandatory standards, (iii) Increase skill availability and promote growth and (iv) Capacity building of MSMEs.
  • Help in realising the vision of ‘Building India as the World class hub for Capital Goods’ and also play a pivotal role in overall manufacturing as the pillar of strength to the vision of ‘Make in India’.
  • The Department of Heavy Industry (DHI) will meet the objectives of the policy in a time bound manner through obtaining approval for schemes as per the roadmap of policy interventions.

Background

The idea of a National Capital Goods Policy was first presented by the DHI to the Prime Minister in the ‘Make in India’ workshop held in December, 2014. It has been framed and finalized after extensive stakeholder consultations with industry, academia, different ministries etc.

It has been framed to create game changing strategies for the capital goods sector by addressing some of the key issues. It includes availability of finance, innovation and technology, raw material, productivity, quality and environment friendly manufacturing practices, creating domestic demand and promoting exports.

For more details: National Capital Goods Policy 2016

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Union Cabinet approves country’s first National Intellectual Property Rights Policy

The Union Government has approved National Intellectual Property Rights (IPR) Policy, 2016 to promote the IP regime and to encourage innovation, creativity and entrepreneurship in India.

The first of its king policy in the country seeks to strengthen legislative and legal framework of IPRs, their commercialization and reinforce enforcement and adjudicatory mechanisms for IPR infringements.

The National IPR Policy will endeavour for a “Creative India; Innovative India: रचनात्मक भारत; अभिनव भारत”.

The Policy lays down seven objectives

  • IPR Awareness: Outreach and Promotion- It seeks to create public awareness about the social, economic and cultural benefits of IPRs among all sections of society.
  • Generation of IPRs: It seeks to stimulate the generation of IPRs.
  • Legal and Legislative Framework: It call for a strong and effective IPR laws, which will have balance the larger public interest and interests of rights owners.
  • Administration and Management: It seeks to strengthen and modernize service-oriented IPR administration.
  • Commercialization of IPRs: Provide appropriate value for IPRs through commercialization.
  • Enforcement and Adjudication: Seeks to strengthen the adjudicatory and enforcement mechanisms for combating IPR infringements.
  • Human Capital Development: Seeks to expand and strengthen human resources, capacities and institutions for teaching, research, training and skill building in IPRs.

Other highlights of the Policy

  • Recognises abundance of innovative and creative energies in the country and prioritizes the need to tap and channelise these energies towards a better and brighter future for all.
  • Exploit and create synergies between all forms of intellectual property (IP), concerned agencies and statutes in the country.
  • Sets in place an institutional mechanism for monitoring, implementation and review of IP regime.
  • Aims to incorporate and adapt global best practices to the Indian scenario.
  • Makes the Department of Industrial Policy and Promotion (DIPP), under the Union Commerce Ministry nodal agency for regulating IP rights in the country.
  • Seeks to weave in the strengths of the Government, R&D organizations, educational institutions, corporate entities including start-ups, MSMEs and other stakeholders in the creation of an innovation-conducive environment.
  • Facilitates a transparent, stable and service-oriented IPR administration in the country.
  • Recognizes that India has well-established TRIPS-compliant administrative, legislative and judicial framework to safeguard IPRs.
  • Meets international obligations while utilizing the flexibilities provided in the international regime to address its developmental concerns.
  • Reiterates India’s commitment to the Doha Declaration on Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement and Public Health.

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