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India revamping national manufacturing policy
19
May '17
Government has decided to revamp the "2011 vintage" manufacturing policy to align it with programmes like 'make in India', digital India, skill India and industrial revolution 4.0, meaning high end automation. The move is also aimed at protecting interests of all segments - highly automated, partly automated or SMEs which are yet to go for automation.

This was stated by commerce and industry minister Nirmala Sitharaman.

"Yes, we have initiated the process (to revamp the policy). I have instructed the secretary in the department of industrial policy and promotion (DIPP) to get into the details of that," the minister told PTI in an interview.

It was necessary to modify the policy in view of several initiatives such as 'make in India', 'digital India' and `skill India' in addition to relaxing of foreign investment policy, taken by the government in the last three years, she said.

The revamped policy was also necessary to protect the interests of all segments of industry, be it highly or partly automated and SMEs which are yet to adopt modern technologies.

"Into this debate, the Industrial Revolution 4.0 is rapidly catching up. You like it or not, some industries are bringing in robotics in a very big way; some partly using that and some others absolutely have no impact of this because they can not afford or they do not want it. But we have to have a place for all the three," Sitharaman was quoted as saying in the report.

Initiatives like 'make in India', 'digital India' and 'skill India' must find a place in the national manufacturing policy since these are aimed at making India a manufacturing hub. "There should be some coherence. So I have asked them (DIPP) that in the context of three years of Make in India, get all these (initiatives) coming into this narrative," she said.

The national manufacturing policy (NMP) "is of 2011 vintage" which envisaged that manufacturing should contribute 25 per cent to country’s GDP by 2022. Currently, the sector contributes about 16-17 per cent to the country's economic growth, according to the report.

The NMP, formulated in 2011, provides tax and other benefits to boost the sector's growth. Industrial revolution 4.0 encompasses use of robotics, artificial intelligence, Internet of Things, data analytics and automation. (SV)

Fibre2Fashion News Desk – India


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