“SamridDHI” serves as a Product Accelerator program under the Ministry of Heavy Industries’ Scheme for enhancing competitiveness in India’s Capital Goods Sector phase II. The Indian Capital Goods Sector has witnessed growth fueled by increasing demand but heavily relies on imports to meet domestic needs, with nearly 39% of demand being fulfilled through imports. Presently, it contributes 12% to the Manufacturing GDP, with projections to reach 25% by 2047. Domestic production stands at ₹3.8 lakh crore (2022-23), with a targeted increase to ₹60 lakh crore by 2047, marking a thirteenfold rise. Notably, capital goods imports constitute 39% of the ₹4.27 lakh crore domestic consumption. This project aims to facilitate technology-driven new product development in Industrial Machinery by Indian companies focusing on Rotating Machinery with cross cutting capabilities in Material Testing/Characterization and industrial controls. Partnering with seven Indian companies over a 2.5-year period, the Accelerator Program engages in mission-mode activities such as strategy development, design, pilot manufacturing, and market entry to develop innovative products for growth markets with global competitiveness and localization by selecting, onboarding, mentoring, and managing industry cohorts in India. The primary objectives include boosting GDP, reducing import dependency, creating employment opportunities, enhancing export potential, and fostering the development of intellectual properties.