Policy aims to raise manufacturing share in GDP to 25% by 2025
Bangalore: The new manufacturing policy targets increasing manufacturing sector's share in GDP to 25 percent by 2025 from the present 16 percent, Minister of State for MSME K H Muniyappa said on Saturday.
"The policy has targeted to increase the share of manufacturing sector in GDP to 25 percent by 2025 from the present 16 percent. We are expecting the share of MSME in exports to increase over 40 percent from 36 percent," he told reporters here.
Muniyappa said the Prime Minister's Employment Generation Programme (PMEGP) has been scaled up and every year it has been targeted to come up with 100 new enterprises in all 638 districts in the country.
"This will create 70,000 new first generation enterprises every year with employment creation for over 5.20 lakh every year," he said.
He said under the 12th plan the MSME has targeted to train 42 lakh youth for entrepreneurship development.
He also said 15 new Tool Rooms and Technology Development Centres would be set up in the country with Rs 2,200 crore financial assistance from the World Bank.
Muniyappa said two new tool rooms would be set up in Karnataka, one at Devanahalli in Bangalore to be develop as an Aerospace Park and another at Kolar aimed at meeting skill requirements of the region as it has emerged as a major auto hub.