Tuesday, November 18, 2014: India needs to foster changes in the infrastructure to boost manufacturing sector in India, in line to achieve the vision of PM Narendra Modi’s ‘Make In India’ initiative, said Ajay Shankar, member secretary, National Manufacturing Competitiveness Council (NMCC), while addressing the thirteenth Manufacturing Summit by the Confederation of Indian Industry in Mumbai.
He further added there is need to create island of infrastructural growth to create new jobs and single point clearances in the industrial parks to attract investment in the manufacturing sector. Shankar said, “Great deal of efforts will have to be put into achieve the target of increasing the share of manufacturing sector in country’s growth. Competitive exchange rate, infrastructure and easy regulatory framework will play a key role in giving a boost to the sectors.”
National Manufacturing Policy intends to raise the manufacturing contribution to the national GDP from current 16 per cent to 25-26 per cent by 2025 and further to create up to 100 million jobs by next decade. The urged for preparing a road map for the industry to achieve the ‘Make In India’ target.
Shankar urged that the industry focus should be laid in manufacturing of toys, electronics, aerospace apart from ship building, automobile, among others. He further that the industry should move beyond the ease of doing business and make efforts to evaluate where they can achieve cost advantage.
