Home / Knowledge / News / Need to set up land banks for manufacturing zones in India
Need to set up land banks for manufacturing zones in India
14
Sep '12
The Union Minister of Commerce, Industry and Textiles Shri Anand Sharma has explained that the incentives enunciated in the National Manufacturing Policy (NMP) can be availed of by any industrial cluster which is based on a model of self-regulation through a Special Purpose Vehicle. 

This should address the concerns of the States that are not in position to earmark the land needed for National Manufacturing and Investment Zones. The Government of India has already notified nine such Townships along the Delhi-Mumbai Industrial Corridor with a minimum land area of 5,000 hectares after a strong demand from the concerned State Governments. “For the first time, an effective single window clearance mechanism has been established for this Policy which will enable industrial units to obtain, at one place, various regulatory clearances including those relating to labour and environment” said the minister, addressing the meeting of the State Chief Secretaries and Industry Secretaries on manufacturing. 

Referring to the social dimension of the Manufacturing Shri Sharma said that neither agriculture nor services sector will be able to grow at such a rapid pace to create newer job opportunities for the aspirational youth of India. The manufacturing sector alone holds this potential to create skilled jobs for the rural youth. National Manufacturing Policy announced in October last year aims to raise the share of manufacturing to 25% in the GDP and creating 100 million productive jobs in this sector within a decade. 
 
Outlining the be benefits of the NMP, Shri Sharma said that “we have been able to persuade the Finance Ministry to allow, for the first time, capital gains tax concessions for investing the sale proceeds of a residential property into the productive activity of a small and medium enterprise. We are pushing for allowing these concessions for the sale of landed property also and not only for residential property.” Furthermore, this policy for the first time envisages creation of Technology Acquisition Development Fund which will serve as a patent pool in which industrial units will be able to seek license for a patented technology which will help them in manufacturing. 
 
Expressing concerns on inadequate availability of skilled manpower Shri Sharma said that the manufacturing policy clearly addresses the gap by providing fiscal incentives for establishment of skill development institutions, it is and polytechnics by the private industry. 
 
 


Must ReadView All

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X