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A ‘radical new national manufacturing policy' will soon be rolled out, said Mr Anand Sharma, Commerce and Industry Minister, at a Confederation of Indian Industry annual summit here.
All inter-ministerial and stakeholder consultations are over and as soon as the Prime Minister, Dr Manmohan Singh, chairs a meeting on the policy, it would be rolled out, he said.
“The policy would be designed to attract greenfield investments from abroad in mega investment zones and also get the latest technologies. It will also help increase the share of the manufacturing sector in the economy,” said Mr Sharma.
Currently the sector, that contributes 80 per cent of the country's industrial production, has a share of 16-17 per cent in the GDP and the target is to take it up to 25-26 per cent by 2020.
Talking about exports, Mr Sharma said that they are expected to cross the target of $200 billion and touch $235 billion in 2010-11. In 2009-10, exports were pegged at $178.6 billion.
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