Moneycontrol
Last Updated : Jan 12, 2018 12:02 PM IST | Source: Moneycontrol.com

Make in India 2.0 to focus on futuristic segments like robotics, genomics

The State's industry department is building a five-year plan for all the top sectors to be under the second edition of Make in India, sources told the paper.

The next round of Make in India programme to be launched in February will focus on technologically advanced methods such as robotics, genomics, chemical feedstock, and electrical storage, reports the Economic Times.

The State's industry department is building a five-year plan for all the top sectors to be under the second edition of Make in India, sources told the paper. This is because the government wants to prepare the sectors to be able to tap global economic opportunities, which the source claims, will arise in a few years from now.

Existing methods would likely be used for planning out strategies and gathering information, instead of forming new committees.

Make in India scheme was launched by Prime Minister Narendra Modi in September 2014 and it focused on sectors which aimed to boost local manufacturing and creating jobs.

The second edition of the initiative is being launched at a time when the manufacturing industry is hit due to global economic slowdown affecting export demand.

The latest numbers show India's manufacturing sector is expected to expand 4.6 percent as compared to the previous figure of 7.9 percent, according to the Central Statistics Office (CSO).

The Department of Industrial Policy & Promotion (DIPP) is willing to sharpen the focus of this scheme so that India leaps forward in the global supply chain.

This time, the State will stress on the need for policies and regulations at the central state and local level and will also look into identifying the availability of raw material, land and skilled manpower.
First Published on Jan 12, 2018 12:01 pm

tags #Economy

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