Govt announces slew of policy measures for improving manufacturing sector

The Minister of State in the Ministry of Commerce & Industry, E M Sudarsana Natchiappan on Wednesday said government is continuously taking measures to improve the performance of the manufacturing sector of the country.

"Some such measures taken include announcement of National Manufacturing Policy (NMP), 2011, simplification and rationalization of the Foreign Direct Investment (FDI) Policy, implementation of Delhi Mumbai Industrial Corridor (DMIC) project, launching of the e-biz Mission Mode Project under the National e-Governance Plan, and creating a joint venture 'Invest India' in association with FICCI," the Minister informed Parliament in a written reply.

Besides, "incentives are being given for helping industries in difficult areas through Plan Schemes of Transport Subsidy, special package of incentives for Special Category States, North-East Industrial & Investment Promotion Policy, 2007, and specific programmes like Industrial Infrastructure Upgradation Scheme, Indian Leather Development Programmes etc," Natchiappan said.

"Some of the additional measures that have been considered necessary by the Government for facilitating increase in industrial production include creating a project monitoring cell for stalled infrastructural and industrial projects with high investment, and approving commencement of preparatory work on creating Chennai-Bengaluru Industrial Corridor (CBIC), Bengaluru-Mumbai Economic Corridor (BMEC) and Amritsar-Delhi-Kolkata Industrial Corridor (ADKIC)," he added.

Dion Global Solutions Ltd.

Read more about: manufacturing sector, nmp, fdi, dmic
Story first published: Thursday, August 8, 2013, 12:40 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?