Financial Daily from THE HINDU group of publications
Wednesday, Apr 19, 2006
Financial Daily from THE HINDU group of publications Wednesday, Apr 19, 2006 |
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Government - Policy Industry & Economy - Outlook PM to chair high-level panel on manufacturing Our Bureau
Its role Will address macro-economic issues impinging on growth Initiate steps to make India a manufacturing hub for areas with scope for global competitiveness Ensure robust growth of the sector through appropriate interventions
New Delhi , April 18 The Government has constituted a high-level committee on manufacturing to look into implementation issues as well as undertake a regular review of initiatives that could be adopted for achieving a sustained growth of 12 per cent in manufacturing. The Prime Minister would chair the committee. The other members include the Commerce and Industry Minister, Finance Minister, Deputy Chairman of the Planning Commission, Chairman of the Prime Minister's Economic Advisory Council and Principal Secretary to the Prime Minister. The Chairman of the National Manufacturing Competitiveness Council (NMCC) would be a member/convenor of the committee. An official release said the committee would address macro-economic issues impinging on the growth and competitiveness of the manufacturing sector in India and create a policy framework for necessary reforms covering all the aspects of manufacturing competitiveness. It would also ensure coordination among the various ministries that deal with manufacturing sub-sectors and review the implementation of time-bound action plan to achieve the objective of 12 per cent growth.
Manufacturing hub
It would initiate steps to make India a manufacturing hub for areas having potential for global competitiveness such as textiles, automobiles, leather, food processing, steel, metals, chemicals and petroleum products. The committee would ensure robust growth through appropriate interventions such as investments in innovation and technology, skill building, right market framework and regulatory environment, the release added.
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