Karnataka   

‘12 p.c. growth target set for manufacturing sector'

PANAJI: The Planning Commission has proposed to fix an ambitious target of 11 to 12 per cent rate of growth per annum for manufacturing sector in the 12th Plan aiming at generating two million jobs per annum in the sector during the Plan period, said Narendra Jadhav, Planning Commission Member.

Mr. Jadhav was addressing the annual general body meeting of Goa Small Industries Association (GSIA) here on Friday. Chief Minister Digambar Kamat and GSIA president Shekhar Sardesai were present.

Mr. Jadhav said that to make growth more inclusive, generation of maximum jobs was very crucial, and here the role of manufacturing sector becomes very important. He said during the 10th and 11th Plan, the annual growth of manufacturing sector remained stagnated at around 8 per cent and that was the biggest handicap in making the overall economic growth more inclusive and sustainable.

For States to have good industrialisation, Mr. Jadhav advocated projects such as special industrial zones, good connectivity and good infrastructure. For the Micro Small and Medium Enterprise (MSME) sector, the Planning Commission member, advocated cluster approach to enhance productivity.

He said that the Planning Commission has recognised the importance of MSMEs sector in making economic growth inclusive and in terms of quantum of growth. It would be one of the focus areas during the 12th Plan with special emphasis on exports, innovation and employment generation.

He said that today the MSME sector represented 45 per cent of the manufacturing output, 40 per cent of total exports and accounted for 8 per cent of the GDP.

Mr. Jadhav said the Centre was serious about the need for simplification of labour laws particularly in the context of SMMEs and he had already submitted a report on amendments needed for the Factories Act, 1948 in the light of changes in the manufacturing sector of the country.

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