Government is planning to formulate the country’s first National Manufacturing Policy shortly to create jobs, encourage innovation and bring in technology.Addressing the exporters from the Southern Region in Chennai today, Union Minister for Commerce and Industry Anand Sharma said that the Prime Minister is scheduled to chair a meeting on the 9th of this month to give the policy its final shape. He said the policy aims to increase the percentage share of the manufacturing sector in the country’s total GDP from the current 16-17 per cent to about 25 per cent. Sharma also said that consultations with the stakeholders and various ministries have been completed. On the export sector, the Minister said that the country has to embrace every continent and region in order to increase our share in the global trade. He also commended the exporters for achieving a milestone of 246 billion US dollars surpassing the Commerce Ministry’s export target of 200 billion US dollars for 2010-11. He said that the Government is taking steps to reduce transaction costs and create a regime that is friendly to business.