Plan to rollout national manufacturing policy ready: Maira

Planning Commission member Arun Maira told CNBC-TV18 that the plan has been chalked out to implement the National Manufacturing Policy (NMP).                

Adding that poor policy formulation was a big bottleneck in inviting and encouraging investments, Maira said that the Planning Commission was coordinating with the government and other stakeholders to ensure that a speedier policy-making process was established.

The move comes in the wake of the regulatory environment in India becoming a challenge to investment in India and Maira called all stakeholders to convert contention into collaboration.

The positive result of NMP will start taking effect only after five years and implementation of the policy will help country to achieve growth of 9 percent. The policy will usher in administrative and institutional reforms.