Heavy industries secretary Rajan Katoch says this is the first-ever policy intervention as far as the capital goods sector is concerned. "Previously, there have been piecemeal approaches, but this is comprehensive. There are 10 sub-sections in capital goods and this policy addresses each one of them."
The Automotive Research Association of India (ARAI) has developed a comprehensive testing facility at Chakan, near Pune, to crash test the new vehicles, he said as per a statement issued by IRF.
VW has admitted that 11 million diesel engine cars worldwide were fitted with the software that helped in manipulating emission tests. It is now facing investigations in the US, South Korea, France, Italy, Canada, Germany and the UK. Australia has said it is monitoring the situation.
The first-ever policy for India's capital goods sector will be placed before the Cabinet for approval by November-end, a government official said today. "We will take it (the policy for the capital goods sector) to the Cabinet by November-end," Secretary in the Heavy Industries Ministry, Rajan Katoch said at a press conference here.
The Heavy Industries Ministry is the nodal authority for implementation of the National Automotive Testing and R&D Infrastructure Project (NATRIP), under which testing and R&D centres have been set up across the country for vehicles.
The agency had named former state Higher Education Minister Laxmikant Sharma and 27 others in its FIR. ED investigators, based in Madhya Pradesh's Indore, have also attached assets worth over Rs 3 crore of an alleged mastermind of the scam, Jagdish Sagar, in connection with their probe in April.
The agency which probes financial crimes under prime laws of the Prevention of Money Laundering Act (PMLA), the Foreign Exchange Management Act (FEMA) and the repealed Foreign Exchange Regulation Act (FERA) has broken all records of lodging complaints and prosecuting the accused of financial frauds, hawala and money laundering.