New Delhi: Commerce and industry minister Anand Sharma on Friday said India will soon have a national manufacturing policy, as his ministry has cleared the Cabinet note on the proposed policy.
“Yesterday only I signed the Cabinet note. We hope that in a few weeks from now, India will have a national manufacturing policy,” Sharma said at a CII function here.
After the committee’s approval, the ministry had held extensive discussions with different stakeholders, including industry chambers.
With the objective of creating 100 million additional jobs and taking the share of manufacturing to 25% of the country’s GDP by 2025, the proposed ‘National Manufacturing Policy’ envisages the creation of National Investment and Manufacturing Zones (NIMZs) with world-class facilities for promotion of these activities.
At present, the manufacturing sector contributes 15-16% to the economy.
On 9 June 2011, a high-level committee chaired by Prime Minister Manmohan Singh gave in-principle approval to the manufacturing policy.
The meeting chaired by Singh also took on board concerns over environment and labour issues.
Following the meeting, Singh had directed the commerce and industry ministry to complete the consultation process with other ministries so that the final policy could be brought before Cabinet soon.
“This will send a positive message to the investing community,” a PMO release said.