There is a need to develop India’s manufacturing sector, which would help create jobs and also add thrust to the GDP. In this regard, the Centre has announced a new national manufacturing policy (NMP) to enhance the share of manufacturing in GDP to 25 per cent within a decade, creating around 100 million jobs.
But enroute to the realisation of this ‘lofty’ goal, there are a number of issues and impediments that need to be identified and addressed. With this view, the Bangalore Chamber of Industry and Commerce (BCIC) on Monday held a seminar to deliberate on the issues and challenges of the NMP.
Enumerating a few challenges to manufacturing, National Manufacturing Competitiveness Council (NMCC) Member-Secretary Ajay Shankar told delegates at the seminar, “The quickest and surest way to rid the country of poverty is to boost manufacturing, which will in turn create jobs.”
Shankar added that workers’ welfare and lifestyle is more important than skills. “We need to provide good housing to workers, which must be made a higher priority,” he said, adding that National Investment and Manufacturing Zones (NIMZ) must be set up, besides establishing plant townships. He also called for a competitive exchange rate which would help incentivise value addition within the economy.