The Hindu : Business : Toning up manufacturing sector

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Wednesday, Jan 09, 2008
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Toning up manufacturing sector

Special Correspondent

NEW DELHI: The Prime Minister has constituted a high power group under the Chairmanship of V. Krishnamurthy, Chairman, National Manufacturing Competitiveness Council (NMCC), for suggesting measures to ensure the continuing growth of the manufacturing sector, which, of late, is showing signs of deceleration.

The secretaries to the government — finance, revenue, commerce, textiles and industrial policy and promotion — as well as the Member Secretary of the NMCC are the other members of the group.

The group is required to submit its report and final recommendations within three months. It would be making interim recommendations, which require early action. The first meeting of the group has been scheduled on January 11. The terms of reference of the group will be to suggest policy measures and a continuing mechanism to ensure sustained growth of the manufacturing industries for the next 10-15 years and to suggest policy measures to reverse the recent deceleration in the growth of manufacturing industries. The group will also suggest policy measures and immediate steps to boost exports of Indian manufactured goods in the face of appreciation of the rupee and high interest rates.

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