BUSINESS

India eyes manufacturing podium

The government has set a target for India to emerge as the third-largest manufacturing country in the world from its sixth rank currently.

This would be achieved through various initiatives. The government is also helping the industry to acquire high-end technology and achieve scale to achieve the desired objective, according to a government official.“Manufacturing has emerged as one of the high growth sectors in India. This sector accounts for around 17 per cent of the country’s GDP. The Government in its New Manufacturing Policy (NMP) aims to increase this share to 25 per cent by 2022,” Girish Shankar, Secretary, Ministry of Heavy Industries & Public Enterprises, Department of Heavy Industries said at WIN India 2016, an event organised to promote modern manufacturing.

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