Solution

The National Manufacturing Policy is by far the most comprehensive and significant policy initiative taken by the Government. The policy is the first of its kind for the manufacturing sector as it addresses areas of regulation, infrastructure, skill development, technology, availability of finance, exit mechanism and other pertinent factors related to the growth of the sector. The Vision of the Policy is: • An increase in manufacturing sector growth to 12-14% per annum over the medium term. • An increase in the share of manufacturing in the country’s Gross Domestic Product from 16% to 25% by 2022. • To create 100 million additional jobs by 2022 in manufacturing sector. • Creation of appropriate skill sets among rural migrants and the urban poor for inclusive growth. • An increase in domestic value addition and technological depth in manufacturing. • Enhancing the global competitiveness of the Indian manufacturing sector. • Ensuring sustainability of growth, particularly with regard to environment.