Indutry Newz!!

Industry NEWZZZZZ.... 1. Manufacturing To Contribute 25 % Of GDP ; Create 100 Million Jobs Within A Decade

The Union Cabinet gave its approval to the long-awaited ambitious National Manufacturing Policy (NMP), which seeks to set up mega industrial zones, create 100 million jobs by 2022 and put India at par with manufacturing powers like China and Japan.“The NMP seeks to enhance the share of manufacturing in the GDP to 25 per cent within a decade and create 100 million jobs in manufacturing as part of the inclusive growth agenda of the UPA,’’ an elated Commerce and Industry Minister, Anand Sharma said after the Cabinet meeting chaired by Prime Minister, Manmohan Singh. Ruling out any kind of subsidies for units operating in these manufacturing zones, the newly approved policy states that to encourage the manufacturing sector, the government will provide fiscal incentives to the industry, particularly to the small and medium enterprises (SMEs).