The Hindu : Business : Effort to give big push to manufacturing growth

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Saturday, Mar 19, 2011
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Effort to give big push to manufacturing growth

Special Correspondent

NEW DELHI: The National Manufacturing policy, which aims to create massive employment opportunities and make India a manufacturing hub, is being discussed with Prime Minister Manmohan Singh and it would help catalyse manufacturing growth and sustainable development, Commerce and Industry Minister Anand Sharma said.

Originally, the policy had been announced by the beginning of this year but had been in the discussion stage and consultations were being held with other ministries before it was finally brought before the Cabinet for approval, he said.

The policy is being shaped to woo foreign investment and increase the share of manufacturing in the gross domestic product (GDP). India's manufacturing growth is slow as compared to G-7 countries such as Canada, France, Germany, Italy, Japan, the U.K., and the U.S. India will soon change its growth strategy and increase manufacturing exports in near future,'' he added.

Referring to the use of green technologies, Mr. Sharma said the countries that possessed the green technologies should find ways and means to share those with the least developed countries which did not have the resources to adopt them. “The energy intensity is high in the Indian manufacturing sector and for that reason the usage of green manufacturing is vital in the country,'' he added.

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