The Indian Manufacturing sector is at an important juncture today. Of late, the sector has been witnessing a boost with the launch of the “Make in India Campaign” that aims at promoting India as an important investment destination and a global hub for manufacturing. Since the last one year, there has been much activity, both at center and state levels, in the form of policy amendments, procedural simplifications and promotional measures to revive manufacturing growth.
Over the next decade, the performance of the manufacturing sector will be critical for achieving India’s overall aspirations of growth and employment. Achieving these aspirations would not be easy and will require coordinated efforts to develop necessary enabling infrastructure, tap new avenues for growth and improve labour and capital productivity. It will also require to take a holistic and systemic view to bring in some fresh thinking and alignment between different stakeholders. CII has been strongly advocating for creating an enabling policy and regulatory framework for taking India’s manufacturing story forward.
This issue of Policy Watch takes an in-depth look at the sectoral issues and has outlined some specific recommendations to reinvigorate the growth momentum in the Manufacturing sector.