Modest growth in manufacturing in last four years

As per Central Statistics Office (CSO), the rate of growth of GDP of manufacturing sector at constant prices 2011-12 has been 5.1 per cent in 2013-14, 7.5 per cent in 2014-15, 10.6 per cent in 2015-16 and 7.7 per cent in 2016-17.

manufacturingIn a written reply in the Lok Sabha recently, Arjun Ram Meghwal, Minister of State in the Ministry of Finance maintained that the government is committed to strengthen country’s manufacturing sector  The Government has launched the new manufacturing policy under the ‘Make in India’ programme with the aim to increase the share of manufacturing in the country’s Gross Domestic Product from 16 percent to 25 percent by 2022. Under this policy, the National Investment and Manufacturing Zones (NIMZ) have been conceived as giant industrial green field townships to promote world-class manufacturing activities. Focus sectors for the new manufacturing policy include textiles and garments, leather and footwear, gems and jewellery, food processing industries, capital goods sector industries, aerospace, shipping, IT hardware & electronics, telecommunication equipment, defence equipment, solar energy, automobiles, pharmaceuticals & medical equipment, small & medium enterprises and public sector enterprises.

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