Categories: Business

government working to identify key sectors for making India a manufacturing hub

Manufacturing Sector

new Delhi. The Ministry of Commerce and Industry is identifying the potential of some key sectors like capital goods, leather and chemicals to make India a stronghold of the manufacturing sector. Sources have given information about this. According to sources, several meetings have been held with various concerned parties including industry boards to identify the areas which have the potential to become globally leaders and make the country a stronghold of manufacturing.

A source said that there are 12 such pioneering areas which can be taken care of. These include modular furniture, toys, food processing (eg ready-to-eat food), agro-chemicals, textiles (eg man-made cotton), air conditioners, capital goods, medicine and auto components. Groups and sub-groups have been formed on this matter, including representatives of industry boards such as the Confederation of Indian Industry (CII) and Assocham.

Sources said that the core group will identify the policies to be implemented on the basis of issues such as technical capacity, employment potential and global and domestic demand. Commerce and Industry Minister Piyush Goyal recently said that in the post-Corona virus epidemic, there is going to be a drastic change in the global supply-chains, and that Indian industrialists and exporters are going to have a significant stake in world trade. Should try He had also pointed out that the Ministry is working on identifying areas which could be promoted in the near future for the purpose of export. Promoting manufacturing can help accelerate India's slowing exports and create more employment opportunities. It is noteworthy that manufacturing sector contributes about 15 percent of India's gross domestic product (GDP). The Government of India is focusing on increasing the share of manufacturing sector GDP.

This post was published on May 3, 2020 5:37 pm

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