Wednesday, March 7, 2012

New manufacturing plan targets 25pc share in GDP


Chennai:
The Union Planning Commission has come out with a manufacturing plan to achieve the vision of 25 per cent share in GDP and 100 million jobs for the manufacturing sector by 2025.

“Manufacturing has not been the engine of real growth in India  with 15 per cent share in GDP  and 12 per cent in employment. The strategy for accelerating growth of manufacturing in India in the 12th Five Year Plan and beyond, involved a re-look at the industrial policy formulation and a national manufacturing plan,” Arun Maira, member of Union Planning Commission said here on Wednesday. 

He said states also should be induced to have own manufacturing plans.

Addressing the third edition of the ‘TN Manufacturing Summit’ - Sustaining Manufacturing Excellence in Tamil Nadu, organised by the Confederation of Indian Industry (CII), he said there should be systematic stakeholder involvement and learning of the ecosystem in shaping the industrial policy. He termed the stakeholder involvement, implementation and learning as the three rails of the industrial policy.

Maira said the long-term objective of the manufacturing plan should be  increasing the depth  in manufacturing with focus on the level of domestic value addition, enhancing global competitiveness of Indian manufacture through appropriate policy support, and ensuring sustainability of growth. 

The Planning Commission has set up 26 working groups, with representatives from industrial groups, government and other stakeholders on different manufacturing industries like automotive and others, he said.

Their key recommendation include creation of hard infrastructure through creation of National Investment and Manufacturing Zones (NMIZ), supplemented by power and transport infrastructure and small medium entreprises, PSUs public sector units and manufacturing exports.

T T Ashok, Chairman, CII Southern Region and managing director, Taylor Rubber, said that the Indian manufacturing had the potential to be a driving force in India’s economic development over the next two decades.  

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