Industry

Prasad to set policy with Panagariya

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Electronics and IT Minister Ravi Shankar Prasad will meet Niti Aayog Vice Chairman Arvind Panagariya on Friday to finalise the policy proposals to boost manufacturing of electronic products in the country, after which the suggestions will be sent for Cabinet approval.

“The basic focus of the policy will be to generate more employment. Two sectors — textile and electronic manufacturing have been identified as having maximum potential to generate employment,” a senior government official said. Textile Minister Smriti Irani will also be present at the meeting to discuss policy initiatives for the textile sector.

These too will be then be sent for Cabinet approval.

For electronics manufacturing, Niti Aayog has proposed an export-oriented strategy, arguing that at less than $65 billion the domestic market remains small in relation to the $2 trillion world market. India is primarily an importer of electronic goods. The government think-tank has pitched for a 10-year tax holiday.

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Printable version | Dec 15, 2019 11:25:58 PM | https://www.thehindu.com/business/Industry/Prasad-to-set-policy-with-Panagariya/article14628650.ece

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