IEEMA welcomes govt decision on capital goods for power proj

Welcoming government's decision on banning duty-free import of capital goods for power projects, Indian Electrical and Electronics Manufacturers Association today said the move will help promote domestic industry which has been operating below its installed capacities.
The government yesterday imposed ban on duty free import of capital goods for power generation and transmission projects under the Export Promotion Capital Goods Scheme.
The decision is aimed at encouraging manufacturing of power equipment and giving a push to domestic capital goods sector, with an aim to boost the overall economy.
The decision will help promote domestic industry which has been operating below its installed capacities, IEEMA said in a statement.

"These amendments will ensure availability of electricity to consumers at reasonable and competitive rates, improve ease of doing business to ensure financial viability of the sector and attract investments, promote transparency, consistency and predictability in regulatory approaches across jurisdictions," IEEMA Director General Sunil Misra said.
The move will also go a long way in ensuring round the clock electricity for all, the statement said.