core sector communique

National Manufacturing Policy within September: Anand Sharma
Perspective Planning for Rs 18500 crore DMIC Completed

The Union Minister for Commerce, Industry and Textiles, Shri Anand Sharma has expressed confidence that India will have its first National Manufacturing Policy in the month of September 2011. Speaking at the National Council Meeting of Confederation of India Industry (CII), Shri Sharma said that among the various policies set for roll out “National Manufacturing Policy has reached the final stage and hopefully within this month of September it will become a reality.”

The National Manufacturing Policy aims at augmenting the share of manufacturing in GDP to 25% within a decade and creates 100 million additional jobs. The key focus of the policy is to improve the business environment enable easy technology acquisition and development, provide access to capital for SMEs and enhance the role of the private sector in skill development. The focus shall be on minimizing the role of Government and creating an environment of self-regulation as far as possible. “We propose to establish 4-5 NMIZs as green field integrated industrial townships with world class infrastructure financed by the Central Government in partnership with respective State Governments with a competitive regulatory environment for attractive investments. Along with this I am happy to inform you that we have now completed the perspective planning of the entire Delhi Mumbai Industrial Corridor region and I have moved the Cabinet for seeking support of Rs.18500 crores for establishment of seven new investment regions across the six States of the country. These two steps will help unlock the true potential of manufacturing in India.”

Reiterating the Government’s commitment to take the reforms further the Minister said that the momentum of growth needs to be sustained and the Government is engaging the industry in a structured dialogue to find out the ways to achieve that. Shri Sharma informed that the first meeting of Joint Task Force of the Government and the Industry will take place on 12th September 2011. The Joint Task Force was announced after Minister’s consultation with CII on July 13th, 2011.

The Minister said that both him and the Finance Minister are sensitive to the issue of cost of credit for the exporters and the industry. He said that the Government agrees in principle for the need of the differential interest rates for keeping them globally competitive. The Minister is regularly monitoring the progress of this decision.