Trade Resources Policy & Opinion The Government Recently Notified 10 Mega Industrial Zones in Different States

The Government Recently Notified 10 Mega Industrial Zones in Different States

PTI reported that the government recently notified 10 mega industrial zones in different states, a move aimed at boosting the country's manufacturing sector.

Mr Anand Sharma Commerce and Industry Ministry at a CII function said that "We have notified 10 National Manufacturing Investment Zones, which are mega integrated townships with world class infrastructure. The biggest one is of the order of 900 square kilometer in Dholera."

Mr Sharma said that the government is taking several steps to increase the share of the manufacturing sector in the GDP to at least 25% by 2020 from the present 16%.

In this regard, a National Manufacturing Policy 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 liberalized labor and environmental norms to promote these zones. The NMP proposes to create 100 million jobs by 2020.

He said that "The implementation process is on for these zones. Master plan for seven has been completed. It would also have skill training institutes."

However, these zones are notified in states like Gujarat, Maharashtra and Rajasthan.

He added that in order to generate employment for millions of people, there is a need to boost manufacturing sector of the country. 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. He added that the industry to talk to their foreign counterparts about the manufacturing policy and invite them to invest in India.

He further added that huge number of young people are expected to join the workforce for which manufacturing sector can generate employment.

Source: http://www.steelguru.com/indian_news/10_national_manufacture_investment_zones_notified/295492.html
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