Govt notifies 10 national manufacturing investment zones
New Delhi: The government on Saturday said it has notified 10 mega industrial zones in different states, a move aimed at boosting the country's manufacturing sector.
"We have notified 10 NMIZs (National Manufacturing Investment Zones), which are mega integrated townships with world class infrastructure. The biggest one is of the order of 900 sq kms in Dholera (Gujarat," Commerce and Industry Ministry Anand Sharma said here at a CII function.
He said the government is taking several steps to increase the share of the manufacturing sector in the GDP to at least 25 percent by 2020 from the present 16 percent.
In this regard, a National Manufacturing Policy (NMP) was announced, which provides for NMIZs -- mega industrial zones with world class supporting infrastructure.
The government is offering a host of incentives like exemption from capital gains tax and liberalised labour and environmental norms to promote these zones. The NMP proposes to create 100 million jobs by 2020.
"The implementation process is on for these zones. Master plan for seven has been completed. It would also have skill training institutes," Sharma said.
These zones are notified in states like Gujarat, Maharashtra and Rajasthan.
In order to generate employment for millions of people, there is a need to boost manufacturing sector of the country, he added.
The Minister said although services sector contributes hugely to the country's economic growth but it would not sustain the same without growth of the manufacturing sector.
Meanwhile, speaking at the Ficci annual general meeting he said that the government is implementing biggest infrastructure building project - Delhi-Mumbai Industrial Corridor (DMIC).
He also urged the industry to talk to their foreign counterparts about the manufacturing policy and invite them to invest in India.
Further, he said huge number of young people are expected to join the workforce for which manufacturing sector can generate employment.
"A social dimension is attached to the sectors growth," he said, adding that if these issues would not be addressed it may lead to unrest among young people.
Sharma said several countries have expressed interest to invest in NMIZs.
"One of the countries is very keen to develop one of the port cities. Some are interested in establishing townships," he said.
Industrial production contracted by 0.4 percent in September due to dismal show by manufacturing sector and decline in consumer as well as capital goods output.
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