Govt. Committed To Develop India As A Manufacturing Hub | SupportBiz

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Govt. Committed To Develop India As A Manufacturing Hub

 
According to a presentation on '100 days of the New Government: the making of manufacturing driven economy' presented by the department, "During the last 100 days, the economic activity has picked up as reflected in the quarterly growth figures of GDP which grew at 5.7 percent in the first quarter (Q1) of April-June 2014 over the corresponding period of the previous year (based on CSO estimates)

New Delhi: Development of a robust manufacturing sector is the priority of the Government as it has the potential to not only take the economic growth to a higher trajectory, but also to provide employment.

Identifying the Government's mandate to put India on a world map as a Manufacturing hub, the Department of Industrial Policy and Promotion (DIPP) has defined three pillars for bringing out transformation in manufacturing.

"Improving business environment, enabling manufacturing, opening up Foreign Direct Investment (FDI) in key sectors are the three pillars," Minister of Commerce & Industry Nirmala Sitharaman Monday said while addressing a press conference for the 100-day report card of Narendra Modi-led government.

Minister of Labour, Narendra Singh Tomar said, "Development of a robust manufacturing sector is the priority of the Government. It has the potential to not only take the economic growth to a higher trajectory, but also to provide employment. The Government is committed to remove all bottlenecks and develop India as a manufacturing hub." "A number of measures have been taken by the Government in that direction," he added.

Vishnu Deo Sai, MoS Employment, Mines and Steel and Secretaries of Department of Industrial Policy and Promotion and Department of Labour were also present at the conference.