DPIIT shares list of 24 key sectors with ministries to work on plan to boost manufacturing

DPIIT has shared a
sectors including food processing, toys, furniture, agro chemicals and textiles
with respective
ministries asking them to work on an action plan
with a view to boost domestic manufacturing and make India a self-reliant country, an official said.

The other
sectors include organic farming, iron, aluminium and copper, electronics, industrial machinery, furniture, leather and shoes, and auto parts.

“Each ministry has been sent those
sectors to identify their response. What incentives they (
sectors) need, what policy tweaking is required, they (respective
ministries) should do that. We have given them a preliminary action plan and the
ministries will work on that. Each ministry will bring its own policy on these
sectors,” the commerce and industry ministry official said.

The government wants to make India a self-reliant country in these segments, boost exports and become a global supplier.

The Department for Promotion
of Industry and Internal Trade (
DPIIT) is working actively on promoting domestic manufacturing
of toys and furniture.

“Several meetings were held
with stakeholders to identify these
sectors which have the potential to become global winners and make India a strong manufacturing hub,” the official added.

Promoting manufacturing would help create more jobs and push India’s dwindling exports.

The manufacturing sector contributes about 15 per cent to the country’s economy and the government is aiming to increase it significantly.

The Index
of Industrial Production (IIP) for April-July contracted by 29.2 per cent. The manufacturing sector constitutes about 78 per cent
of the IIP.

Exports too contracted by 26.65 per cent to USD 97.66 billion during April-August this fiscal.

Source link

What do you think?

Written by admin


Leave a Reply

Your email address will not be published. Required fields are marked *



India opens dumping probe on Malaysia, Vietnam, Thai copper tube, pipe imports

‘Ban on blending to boost mustard seeds production, cut edible oil imports’