Union Minister for Commerce and Industry Anand Sharma said on Friday that the policy framework for the National Manufacturing and Investment Zones (NMIZ) will be presented to the Union Cabinet for approval “by the end of the year.”
Speaking at national awards for Export Excellence 2008-09 function of the Engineering Export Promotion Council (EEPC India) here, Mr. Sharma said, “The policy document is ready for ministerial consultations.” “The policy will usher in an investor-friendly regime,” he added.
Mr. Sharma said the share of manufacturing in gross domestic product (GDP) has stagnated at about 16-17 per cent since 1991. “Indian industry's true potential can he realised only when the manufacturing sector grows strongly,” he said.
Mr. Sharma said the stimulus packages of the government had “prevented the situation from becoming far worse.”
Aman Chadha, Chairman, EEPC India, urged the government to help the industry cope with “protectionist measures” that have been invoked in the industrialised countries. He also wanted “a careful assessment” of some of the proposals in the Doha Round of the World Trade Organisation.
