The Cabinet has approved the revised National Manufacturing Policy proposed by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry on 25th October, 2011. The policy has been formulated after detailed consultations with the industry; subject matter experts; State Governments and the concerned Ministries/Departments of the Government of India.
The key objectives of the policy are:
- To increase the sectoral share of manufacturing in GDP to at least 25% by 2022;
- To increase the rate of job creation so as to create 100 million additional jobs by 2022;
- To enhance global competitiveness, domestic value addition, technological depth and environmental sustainability of growth.
The policy also provides for creation of large integrated industrial townships called National Investment and Manufacturing Zones (NIMZs) with state-of-the-art infrastructure; land use on the basis of zoning; clean and energy efficient technologies; necessary social and institutional infrastructure in order to provide a productive environment to persons transitioning from the primary to the secondary and tertiary sectors. The land for these zones will preferably be waste infertile land not suitable for cultivation; not in the vicinity of any ecologically fragile area and with reasonable access to basic resources.
It is envisaged to ensure compliance of labour and environmental laws while introducing procedural simplifications and rationalization so that the regulatory burden on industry is reduced. The interventions proposed are generally sector neutral, location neutral and technology neutral except the attempt to incentivize green technology for sustainable development No subsidies are proposed for individual units or areas. The basic thrust is to provide an enabling environment for tapping the potential of the private sector and the entrepreneurial skills of the younger population.
Click here to view the policy.
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