India will soon identify about a dozen sectors where the country can emerge as a global manufacturing hub, officials said. Niti Aayog is conducting an exercise to identify these sectors and their export potential and recommend strategies accordingly, they said.
The government is adapting policies and providing infrastructure support to help these sectors emerge as global champions in the industry. According to officials, the focus is on providing management and results-oriented support to these sectors to increase production and meet global demands.
The Niti Aayog will order an inquiry into the matter, they said. While the comprehensive list will be finalized in the next four months, policy intervention is being considered in cement, steel, and some consumer industries, especially those not covered by Production Linked Incentive (PLI) schemes.
"The idea is to analyze about 10-12 industries in the economy and map them to global trends. This helps boost their growth potential," said one of the officials, who did not want to be identified, adding that the government is acting in the relevant sectors.
The objective of the exercise is to assess the country's industrial capacity and the challenges faced by these sectors that are preventing India from emerging as a global manufacturing hub.
Once identified, the government aims to provide these sectors with the necessary infrastructure, including seamless transport, power supply and digital connectivity.
In addition, it will review existing policy frameworks and trade agreements by simplifying the regulatory environment and adjusting the tax structure where necessary to increase production in these sectors and ease of doing business in India.
We use cookies to ensure you get the best experience on our website. Read more...
