New manufacturing policy to create 100 mn jobs

[Che Guevara]

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NEW DELHI: India will soon have a national policy on manufacturing that will help create 100 million additional jobs by 2025 and boost economic growth.

"For the first time we are going to have a policy dedicated to the manufacturing sector. Industry welcomes the in-principle nod given by the prime minister to the draft National Manufacturing Policy and hopes that a final policy will be announced within a month," Harsh Mariwala, president of Federation of Indian Chambers of Commerce and Industry (FICCI) said on Friday.

A high-level committee on manufacturing headed by Prime Minister Manmohan Singh on Thursday cleared the draft of the policy that aims to increase the share of manufacturing in the country's GDP to 25 percent by 2025 from the present 16 percent.

The new policy is expected to give a fillip to the growth of industrial and overall GDP, which have slowed lately.

GDP growth slowed to 7.8 percent in the January-March period, the slowest in five quarters.

The country's industrial output grew at a much slower 6.3 percent in April, according to official data released on Friday.

Analysts said the new policy, if implemented quickly, would provide a much-needed fillip to growth, especially the growth of industrial output.

"This will certainly give the much needed boost to the manufacturing sector whose contribution in the country's GDP has remained stagnant at 16 percent and needs to increase it to generate the much needed employment opportunities," FICCI's Mariwala said.

According to draft of the proposed manufacturing policy prepared by the Department of Industrial Policy and Promotion, in consultation with National Manufacturing Competitiveness Council and the Planning Commission, the new policy is estimated to create an additional 100 million jobs by 2025.

Sustaining growth and providing gainful employment to the rising workforce is among the biggest challenges facing the country's economic policy makers.

The draft policy, which was presented to the meeting presided over by the prime minister by Commerce and Industry Minister Anand Sharma, has been prepared after consultations with various stakeholders, including different ministries, state governments and industry associations.

New manufacturing policy to boost growth - The Economic Times

[ramu]

100 Mn in 2025 will be about 7% of the population. I think we need to do more.

[Veeru]

100 Mn in 2025 will be about 7% of the population. I think we need to do more.

ramu bro they are talking about manufacturing jobs only, the jobs in service sector, infrastructure etc etc. are not counted here.

[ramu]

ramu bro they are talking about manufacturing jobs only, the jobs in service sector, infrastructure etc etc. are not counted here.

Yes, truee but we should atleast create 350 million jobs in manufacturing alone given the demographics in India. 25% of population should be in manufacturing. 100 M is way too low.

[pari.mehta]

BLOODY FINALLY. the biggest things needed by india to catch up to china are politically untouchable, reform of labor laws and better infrastructure. eg. NHAI=chor, get effing private companies and get a lokpal setup with teeth and a massive budget.

we need to use our massive population and get them offa that damn square foot of land they cultivate and starve off of. 57% in agriculture is mental.

[angeldemon_007]

Yes, truee but we should atleast create 350 million jobs in manufacturing alone given the demographics in India. 25% of population should be in manufacturing. 100 M is way too low.

With the increased automation in todays industries its really a big target. with the increase in manufacturing alot of other sectors will gain momentum like IT, insurance, banking, real estate etc. which will also increase the job and all that because of one policy. Why in the hell MMS going for such a good policy after ruling for so many years ?

[deckingraj]

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With the increased automation in todays industries its really a big target. with the increase in manufacturing alot of other sectors will gain momentum like IT, insurance, banking, real estate etc. which will also increase the job and all that because of one policy. Why in the hell MMS going for such a good policy after ruling for so many years ?

Hahahah...you do you are doomed you don't do you are doomed

B/W MMS has his signature on some very important moments in our country

- Economic Reforms of 91
- RTI Act
- NREGA
- Civilian Nuclear Deal
- and Now this...

Good going MMS...Bring in as many reforms as you can....