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OEM Update

Govt. to announce manufacturing policy soon

May 18, 2011 11:11 am

Exports to cross US$ 200 billion in 2010¬11: Anand Sharma
 
On 8th April, the government has announced that it will soon unveil a national manufacturing policy, which aims at attracting overseas investments and increase the share of the sector in the economy. “Manufacturing is the key to inclusive growth in India, and the government is ready with a radical new manufacturing policy,” said Anand Sharma, Minister for Commerce and Industry in his address to the CII at its national conference and annual session. The Minister also announced that exports for the year 2010‑11 would be well over the target of USD 200 billion, and represents a remarkable recovery from 2009-10 when exports had suffered due to the global economic crisis.
 
Sharma focused his speech on the new manufacturing policy which will be the growth engine of India’s economy. India is already the back office of the world and the pharmacy for the world’s poor, it is time for India to emerge as the technology workshop of the world by becoming a global leader in high technology manufacturing, said the Minister. “This policy would be designed in a way to attract greenfield investment into cutting edge technology, and include comprehensive measures that address industry concerns”, he said.

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