by June 17, 2011 0 comments

The policy was approved by a high-level committee headed by the PM. The objective of the policy is to increase the share of manufacturing to 25 per cent of the gross domestic product (GDP), from the existing 16 per cent. The Minister of State for Commerce and Industry, Anand Sharma, said, A committee of secretaries has been asked to “fine-tune” the policy and report the recommendations to the PM within the next 30 days, so that it can be brought before the Cabinet. The Prime Minister observed that the policy measures proposed would reduce the compliance burden on industry. At the same time, these measures have to be formulated while adequately taking care of the environmental and labour welfare concerns.”

The main issue was the suggestion to create massive National Manufacturing and Investment Zones (NMIZ). The NMIZs, which were expected to be far bigger than Special Economic Zones (SEZs), would come up across India. According to the draft policy, creating a new and forward-looking policy would result in 100 million jobs by 2025. The draft policy had also stated that special focus would be given to machine tools, heavy electrical equipment, heavy transport, earth moving and mining equipment.

No Comments so far

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.