Industry & Economy
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Economy
Manufacturing initiative on the anvil
Our Bureau
New Delhi
,
Jul 20
The Government plans to come up with a national manufacturing initiative (NMI) to propel growth in the sector, according to the Commerce and Industry Minister, Mr Kamal Nath.
"The NMI will take forward the strategy prepared by the National Manufacturing Competitiveness Council (NMCC). The NMI will focus on the thrust sectors identified by the NMCC," he told newspersons after attending the second meeting of the Prime Minister's Council on Trade and Industry.
The NMI would be prepared by the Ministry of Commerce and Industry along with NMCC and then submitted to the recently constituted Prime Minister's Committee on Manufacturing and the Union Cabinet for approval.
Mr Kamal Nath also said that at the meeting he proposed setting up `Investment Regions for Manufacturing' with a view to promoting the pace of manufacturing as well as attracting greater investments including FDI.
It would also aim to make industrial growth more labour-intensive.
Mr Kamal Nath said that a few States have already come forward to set up such regions.
He also that industry captains wanted the electronic components industry to be encouraged. "There was also discussion on why Intel was not investing in India and what they are looking for from the Government."
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