The Government of India has recently announced a national manufacturing policy with the main objective of enhancing the share of manufacturing sector in Indian GDP to 25% within a decade and creating 100 million new jobs.
This policy also seeks to empower rural youth by imparting necessary skill sets to make them employable. Sustainable development is integral to the spirit of the policy and technological value addition in manufacturing has received special focus.
The share of manufacturing in India’s GDP has stagnated at 15-16% since 1980 while the share in comparable economies in Asia is much higher at 25 to 34%.Inadequate physical infrastructure, complex regulatory environment and inadequate availability of skilled manpower have constrained the growth of manufacturing in India. Recognizing that the manufacturing sector has a multiplier effect on the creation of jobs, even in allied sectors, the government has brought out this policy. The Central Government will create the enabling policy frame work, provide incentives for infrastructure development on a Public Private Partnership (through appropriate financing instruments, and State Governments will be encouragedto adopt the instrumentalities provided in the policy.
This policy also seeks to empower rural youth by imparting necessary skill sets to make them employable. Sustainable development is integral to the spirit of the policy and technological value addition in manufacturing has received special focus.
The share of manufacturing in India’s GDP has stagnated at 15-16% since 1980 while the share in comparable economies in Asia is much higher at 25 to 34%.Inadequate physical infrastructure, complex regulatory environment and inadequate availability of skilled manpower have constrained the growth of manufacturing in India. Recognizing that the manufacturing sector has a multiplier effect on the creation of jobs, even in allied sectors, the government has brought out this policy. The Central Government will create the enabling policy frame work, provide incentives for infrastructure development on a Public Private Partnership (through appropriate financing instruments, and State Governments will be encouragedto adopt the instrumentalities provided in the policy.
More details can be found in the following link
http://www.pib.nic.in/archieve/others/2011/nov/d2011110401.pdf
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