BUSINESS

Cabinet note on National Manufacturing Policy moved

CREATING JOBS: Union Commerce and Industry Minister Anand Sharma (right) with Commerce Secretary Rahul Khullar (left) and Dhruv Sawhney, past-President, CII, addressing the Exports Summit in New Delhi on Friday. — PHOTO: SANDEEP SAXENA

CREATING JOBS: Union Commerce and Industry Minister Anand Sharma (right) with Commerce Secretary Rahul Khullar (left) and Dhruv Sawhney, past-President, CII, addressing the Exports Summit in New Delhi on Friday. — PHOTO: SANDEEP SAXENA  

Inching one more step towards formulation of national agenda for making India manufacturing hub, Union Commerce Minister Anand Sharma on Friday said his Ministry had moved the much-awaited Cabinet note on new National Manufacturing Policy which is expected to be in place within a fortnight.

“I have signed the Cabinet note on Thursday evening. The issues pertaining to the Labour and Environment Ministries have been sorted out. We hope that in the next fortnight, we will get the formal approval for the National Manufacturing Policy that will generate millions of jobs and opportunities for the young and emerging entrepreneurs of India,” Mr. Sharma said on the sidelines of Confederation of Indian Industry (CII)-organised Exports Summit.

The National Manufacturing Policy envisages the creation of mega industrial zones with world-class infrastructure facilities in various parts of the country and is expected to generate 100 million jobs. “It will take the share of manufacturing to 25 per cent of the country's GDP by 2020 from the current 15-16 per cent. The sector contributes over 80 per cent to the country's overall industrial production,” he said.

Mr. Sharma said the share of 16 per cent is too low in comparison to other countries. When asked by when the Cabinet is expected to take up the matter, he said: “It is likely to be approved within a fortnight paving way for implementation of one of the biggest projects that would revolutionise manufacturing in India”.

The policy has also proposed easing of labour and environment laws and sought tax sops for National Manufacturing Investment Zones (NMIZs). These planned big enclaves could even subsume special economic zones. “We proposed not too many, but integrated NMIZs. They will become a reality and they will empower our country and help us to achieve the larger objective and the targets which we have set,” he said.





  • Policy envisages creation of mega industrial zones
  • Proposes easing of labour and environment laws

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