The government has approved the first-ever policy for the country's capital goods sector envisaging creation of over 21 million new jobs by 2025. The National Capital Goods Policy was approved at a Cabinet meeting chaired by the Prime Minister in New Delhi yesterday. <br/><br/>Briefing media, Railway Minister Suresh Prabhu said, the objectives of the new policy are to create an ecosystem for a globally competitive capital goods sector to achieve total production in excess of Rs 7.5 lakh crore by 2025 from the current level of Rs 2.3 lakh crore. He said, the policy aims at raising direct and indirect employment from the current 8.4 million to 30 million.<br/><br/>The policy envisages increasing exports from the current 27 percent to 40 percent of production. It will also help increase the share of domestic production in India's demand from 60 percent to 80 percent thus making India a net exporter of capital goods. The Policy will help realising the vision of Building India as the World class hub for Capital Goods. <br/><br/>It will also play a pivotal role in overall manufacturing as the pillar of strength to the vision of Make in India.