Labour, environment ministries yet to notify mfg policy: Sharma
The much-talked National Manufacturing Policy (NMP), aimed at creating world class infrastructure in India, is yet to be notified by labour and environment ministries even though five months have elapsed after its clearance by the Cabinet.
Jakarta: The much-talked National Manufacturing Policy (NMP), aimed at creating world class infrastructure in India, is yet to be notified by labour and environment ministries even though five months have elapsed after its clearance by the Cabinet.
"The policy stands notified ... only revenue has done it. Labour and environment still need to do it," Commerce and Industry Minister Anand Sharma told reporters.
Sharma, who is on a three-day visit here, said by the end of March all the departments are expected to notify the policy.
The NMP would be a key enabler for setting of National Manufacturing and Investment Zones (NMIZs), including the ambitious Delhi-Mumbai Industrial Corridor (DMIC). It is expected to create 100 million new jobs by 2022.
"All notifications will be aligned with the policy decisions by the Cabinet," he said.
The policy provides for certain relaxations in regard to environment and labour norms with in-built safeguards. Besides, fiscal sops are also proposed.
While the Cabinet approved the NMP in October, there were differences between the Department of Industrial Policy and Promotion (DIPP) on one hand and the ministries of labour and environment, on the other.
The NMP seeks to raise share of the manufacturing sector in the Gross Domestic Product (GDP) to 25 percent from the present 15-16 percent in the next decade.
It envisages facilitation by the government in infrastructure development and improvement of the business environment through rationalisation and simplification of the regulatory framework.
Talking about NMIZs, Sharma said: "the seven zones are moving into their implementation part. There are three states (Maharashtra Andhra Pradesh and Rajasthan) where land banks and the proposal are in the pipeline. I am sure by August, number of NMIZs will be at least 10, if not 11".
These planned big enclaves could even subsume special economic zones.
Further, he said that major Indian companies like Bajaj Auto, Adani Global Services and Rashtriya Chemical Fertilisers have promised major investments in Indonesia.