Government formulates a National Master Plan for manufacturing clusters

Government formulates a National Master Plan for manufacturing clusters

271
0
National Master Plan
The manufacturing clusters

In a major overhaul of India’s manufacturing strategy, the government is devising a National Master Plan for manufacturing clusters.  The government will also assess big projects including the Sagarmala Project, and upcoming industrial corridors to ensure they are in sync with this master plan being worked out. A committee formed under Amitabh Kant, Chief Executive Officer of Niti Aayog, is expected to finalize a comprehensive master plan between June and August.  The plan, being piloted by the Department of Industrial Policy and Promotion(DIPP), will then be sent for cabinet approval.  The government is betting big on manufacturing through ‘Make in India‘ to create millions of jobs the country needs.  It is targeting to increase the share of manufacturing in the economy to 25% by 2025 from around 18% now.  Manufacturing gross value added (GVA) is estimated to growth by 7.7% in FY17, more than 6.7% for the entire economy.  The master plan would identify infrastructure support including plug-and-play facilities, forward and backward linkages, provide incentives on electricity tariff, flexible labour laws, open access to power supply among other things.  It would also include a single window clearance to substitute the current system where a starting a manufacturing plant requires over 20 approvals from the state and the Centre.

Source: economictimes.indiatimes.com

Image source: Chemparc

LEAVE A REPLY