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India : ''Manufacturing Policy'' being framed |
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2004-8-6
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To provide a fillip to manufacturing sector and boost competitiveness, the Planning Commission has decided to work on a national manufacturing policy. P Chidambaram, Finance Minister had announced in the recent budget about setting up of a National Manufacturing Competitiveness Council (NMCC) to suggest sector-specific measures for improving performance.
Basic idea was to provide impetus, energise and sustain the growth of industry like food processing, textiles and garments, engineering, consumer goods, pharmaceuticals, capital goods, leather and hardware while Indian companies take on global giants.
The Planning Commission has proposed to establish the NMCC as an apex mechanism in the commission to evolve the national manufacturing policy. The NMCC would include representatives from the ministry of finance, department of industrial policy and promotion, department of commerce, Planning Commission, ministry of external affairs, Council for Scientific and Industrial Research (CSIR), Federation of Indian Chambers of Commerce and Industry (Ficci) and the Defence Research and Development Organisation (DRDO).
According to a paper prepared by the industry division of the Planning Commission and subscribing to the views expressed in the Common Minimum Programme (CMP), the terms of reference of the NMCC would include evolving policies and conditions which encourage competitive, sustainable and efficient indigenous creation of value through manufacturing sector. It would identify technology missions critical to manufacturing sector like nano-technology, consider global benchmarking initiatives, explore sectoral complementarity of India and China and evolve a time-bound road map on achieving world class standards.
The NMCC would also try to integrate industry concerns in the export-import and fiscal policies.
While the share of the manufacturing sector gross domestic product in India is 17 percent it was 33 percent in China, 29 percent in Korea, 25 percent Brazil and 27 percent in Thailand.
Manufacturing exports share in total exports is down 0.76 per cent in 2003 compared to 0.8 per cent in 2002, according to a WTO report. |
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