Production of heavy engineering equipment, other machinery cross Rs 5.69 lakh crore in 2024-25
The production of heavy engineering equipment and various sub sectors of the capital goods sector increased from Rs 2,66,672 crore in 2020-21 to Rs 5,69,900 crore in 2024-25, the Parliament was informed on Tuesday.
Heavy electrical equipment saw a total production worth Rs 3,64,706 crore in 2024-25, up from Rs 167,706 crore in 2020-21, Minister of State for Heavy Industries Bhupathiraju Srinivasa Varma, informed the Lok Sabha.
While earthmoving and mining machinery saw production worth Rs 80,750 crore in 2024-25 -- up from Rs 29,021 crore in 202-21, printing machinery saw production of Rs 29,716 crore in 2024-25, compared to Rs 10,058 crore in 2020-21, he noted.
The minister also said that at present, there is no proposal under consideration in the Ministry of Heavy Industries for disinvestment of BHEL.
However, the Cabinet Committee on Economic Affairs (CCEA), in its meeting on October 27, 2016, inter-alia, accorded its ‘in-principle’ approval on certain aspects in respect of the Central Public Sector Enterprises (CPSEs) under the Ministry of Heavy Industries (MHI).
The disinvestment of Bridge & Roof Co. India Ltd. (B&R); units of Cement Corporation of India Ltd. (CCI), where it is legally permissible, be disinvested; disinvestment by merger of Engineering Projects (India) Ltd. (EPIL) with similarly placed CPSEs; and expression of Interest (EoI) were invited in respect of B&R and EPIL.
“However, no bids were received. Disinvestment process of units of CCI could not be started as not found fit for strategic sale,” said Varma.
Meanwhile, the growth rate of India’s industrial production stood at 0.4 per cent in October this year, which "could be attributed to the fewer working days because of a number of festivals in the month, including Dussehra, Dipawali and Chhath", according to a recent statement issued by the Ministry of Statistics.
The country’s industrial growth rate, based on the Index of Industrial Production (IIP), had accelerated to 4 per cent in September and August from a four-month high of 3.5 per cent in July, which, in turn, had surged from 1.5 per cent in June.
The manufacturing sector recorded a positive growth of 1.8 per cent during October compared to the same month of the previous year. Within the manufacturing sector, nine out of 23 industry groups have recorded positive growth during the month.
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