National Manufacturing Policy

Topics: Investment, Industry, Infrastructure Pages: 4 (1338 words) Published: July 6, 2013

RAKTIM ROY CHOWDHURY
ID-13A2HP020

National Manufacturing Policy

Key Constituent:
1. Increase the share of manufacturing in the country’s GDP from the current 16% to 25% by 2022 2. Create 100 million additional jobs in the next decade. 3. Industrial training and skills development programmes 4. Establishment of National Investment and Manufacturing Zones equipped with world-class infrastructure that would be autonomous and self-regulated developed in partnership with the private sector 5. Flexible labour laws and simplified & expeditious exit mechanism for sick units. 6. Relaxation in environmental regulations

7. Financial and tax incentives to small and medium enterprises. 8. Incentives to states for infrastructure development.
9. Incentives for Green Manufacturing.
10. Rationalization of business regulations to reduce burden of procedural and regulatory compliance on businesses. 11. Increased focus on employment intensive industries, capital goods industry, industries with strategic significance and those in which India enjoys a competitive edge and the SME sector. 12. Make industrial land (land acquisition) available through creation of land banks by states.

Objective: The major objectives of the NMP are to increase the sectoral share of manufacturing in GDP to at least 25 per cent, create 100 million jobs by 2022 and enhance global competitiveness of the sector. Besides, it focuses on domestic value addition, technological depth and environmental sustainability of growth. Focus: SME segment The Small and Medium Enterprises (SME) segment of manufacturing has in particular attracted due attention in the new policy as can be seen from the various financial and development incentives that have been envisaged therein. The need for special focus on the segment arises from the fact that currently, 8% of overall GDP, 45% of manufacturing output and 40% of the country’s exports...
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