The banking system must expand to respond to new demands for consumption and production
The cabinet has cleared the National Manufacturing Policy, which will facilitate the creation of mega industrial zones. The government has also proposed several fiscal incentives to boost the manufacturing sector. In an interview to CNBC-TV18, B Muthuraman of CII discussed the implications of the manufacturing policy.
The cabinet today passed the national manufacturing policy to encourage industry in India that seeks to set up mega industrial zones and create about 100 million jobs by 2020, reports Rituparna Bhuyan of CNBC-TV18.
The group of ministers headed by Sharad Pawar has cleared the manufacturing policy, reports CNBC-TV18’s Rituparno Bhuyan.
In this episode of The Forbes India show, Harsh Mariwala, the head of Marico Industries talks to CNBC-TV18’s Senthil Chengalvarayan about his views on the economy, various policies and the possibility of trade with Pakistan.
Commerce and Industry Minister Anand Sharma will tomorrow discuss the proposed manufacturing policy and industry concerns on green clearances for projects with the new Environment Minister Jayanthi Natarajan.
The proposed National Manufacturing Policy has moved one more step closer to being a reality. Prime Minister's principal secretary TKA Nair, who chaired an inter-ministerial meeting on the policy today, asked all concerned government departments to submit their views on the policy in the next two weeks.
Emphasising the need to boost growth in the manufacturing sector, industry veteran Baba Kalyani today expressed hope that the soon-to-be-announced manufacturing policy would give an impetus to the sector.
The country's first manufacturing policy would come out soon and Prime Minister Manmohan Singh will chair a ministerial meeting on June 9 in this regard, Commerce and Industry Minister Anand Sharma said.
Several constraints are plaguing the domestic manufacturing sector and the Planning Commission panel has identified 12 constraints for action, out of which environment nod, land buy and industrial relations are the top constraints.
Anand Sharma, Commerce Minister, in an exclusive interview with CNBC-TV18’s Shereen Bhan says that his ministry has had consultation talks with the prime minister and the finance minister on the manufacturing policy. “As soon as there is consensus will move cabinet with manufacturing policy,” he says.
Staying with the manufacturing policy, the planning commission is now working on a broader plan for manufacturing within which this new policy will be framed.