New National Manufacturing Policy This Month, Says Administration

New National Manufacturing Policy This Month, Says Administration

The administration stated that it is expected to come forward with a National Manufacturing Plan by the end of September 2011 that aspires to generate mega industrial zones crosswise the nation with top-notch infrastructure facilities.

Commerce and Industry Minister Anand Sharma said, "The note (for the policy) will go to the Cabinet within a week. I do not foresee any delay. Hopefully within this month, it will become a reality."

The national manufacturing plan eyes to generate 100 million extra jobs and take the share of manufacturing to 25% of India's gross domestic product by the year 2020 as against 15-16%.

The section adds more than 80% to India's total industrial production.

The plan also aimed to relax labour and environment regulations and looked for tax sops for the projected National Manufacturing Investment Zones (NMIZs).

These proposed big enclaves could even consider SEZs.

On the determined $90 billion Delhi-Mumbai Industrial Corridor (DMIC), Mr. Sharma stated that seven novel investment areas would be established crosswise the six Indian states under the project.

These two measures would assist unlock the true prospective of manufacturing in the country.

He also stated that the initial gathering of a Joint Task Force of the administration and industry will take place on September 12.

The Joint Task Force was declared after the minister held talks with CII on July 13.


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