The Government will bring soon a new national manufacturing policy. It envisages creation of mega industrial zones with world-class infrastructure facilities. Commerce and Industry Minister Anand Sharma said at a function in New Delhi today, the a note to this effect has been sent to the Cabinet. He said the policy aims at creation of 100 million additional jobs and take the share of manufacturing to 25 per cent of the country's GDP by 2020.It is at present around 16 per cent. The Minister said that the sector contributes over 80 per cent to the country's overall industrial production. The policy has proposes easing of labour and environment laws and seeks tax sops for National Manufacturing Investment Zones.Emphasizing the need to diversify the export destinations of Indian products, Mr.Sharma said that growth is currently coming from Africa, South America and the ASEAN countries.
News On AIR | August 19, 2011 7:45 PM
New national manufacturing policy soon: Anand Sharma