NMP will help boost manufacturing share of GDP, says Sharma
Stressing the need to improve the country’s manufacturing capabilities, Union Commerce and Industry Minister Anand Sharma said on Monday evening that the national manufacturing policy (NMP) would over the next decade raise the share of manufacturing in GDP from 16 per cent presently to 25 per cent.
“Raising the share of manufacturing will help create 100 million new jobs over the next decade,” Sharma said, after reviewing the status of various projects including the Bangalore-Chennai and Bangalore-Mumbai Industrial Corridor projects with Karnataka Chief Minister Siddaramaiah and senior officials.
He said that more public-private partnerships would help boost manufacturing activity in the light of 14 new National Investment and Manufacturing Zones (NIMZs) receiving approval across the country.
“The NIMZs will essentially be full-fledged industrial townships. We are also developing freight corridors to support export activity at the NIMZs, starting with the Delhi-Mumbai Industrial Corridor. Port cities are also under consideration as part of the freight corridor plan.”
On the need for robust and efficient implementation of manufacturing policy, Sharma said that a lot of policy-making has been trapped in discourse and little action.
“We do need stronger implementation. Under the NMP, we have seen investments in place, but there is a lot for the industry to do as well. Governments can only put policies in place and do hand-holding for industry. Land for projects will be the equity of the state while providing infrastructure will be the Centre’s prerogative. However, industry can do more. For a start, there is also the need for greater awareness about NMP among the industry,” he said.
Manufacturing sector output contracted 0.3 per cent during the April-October period of 2013-14 fiscal, from 1.1 per cent growth in same period last year.