The Union Minister of Commerce and Industry Shri Anand Sharma today called for accelerating the implementation of National Manufacturing Policy (NMP) and noted with satisfaction the good progress made by some states in land acquisition for National Investment and Manufacturing Zones (NMIZ). Speaking to media persons after chairing the first meeting of Manufacturing Industry Promotion Board (MIPB), Shri Sharma said: “We had a review of the stage at which the various NIMZs are; issue which concern the states, issues which concern the industry, the investors as well as the different departments. That’s why Secretaries of the various Ministries – Economic Affairs, Surface Transport, Science & Technology, Revenue, they all were here. And we will have a review after three months.”

In the meeting it was noted that the Department of Science & Technology has given its consent to lodging the Technology Acquisition and Development Fund under the NMP in the Global Innovation and Technology Alliance (GITA). Since GITA is already operational, it will facilitate operationalisation of the Technology Acquisition and Development Fund (TADF) at the earliest.

Shri Sharma asked the Ministry of Labour to convene another tripartite meeting as already requested by the Department Of Industrial Policy & Promotion (DIPP) so that a final decision could be taken on the issue of amendment to Section 25 FFF (1A) of the Industrial Disputes Act, 1947. The Department of Revenue was asked to ensure that the dispensation pertaining to relief from capital gains tax as approved in the NMP, is included in the Direct Tax Code (DTC) Bill, as was indicated by them.

The Department of Heavy Industry made a presentation on capital goods. It was decided that the Department and National Manufacturing Competiveness Council (NMCC) will outline measures to strengthen the public sector industries in the capital goods sector in the short and medium term and send their recommendations, which will be discussed in the next meeting of the MIPB. The Department of Heavy Industry is to indicate those tariff lines in the capital goods sector which have substantive domestic manufacturing capacity, but have suffered for reasons of inverted duty structures or other trade related measures, so that correctives as appropriate may be put in place.

The meeting was attended by Secretary, Industry; Secretary, Department of Economic Affairs; Secretary, MSME; Secretary, Science and Technology, and senior officials from Environment, Heavy Industry and States of Andhra Pradesh, Karnataka and Maharashtra.

Chaired by Shri Sharma, the MIPB has been tasked to periodically review the overall situation of the manufacturing sector in the country. This includes review of State-wise/sector-wise performance of the manufacturing sector. The Board also reviews the implementation of the National Manufacturing Policy in general and the development of NIMZs, wherever approved, in particular. High Level inter-ministerial nature of the Board enables it to resolve co-ordination issues among central ministries on the one hand and state governments and central ministries on the other.

DS/RK

(Release ID :97358)

National Manufacturing Policy acceleration to fast track NMIZ development and align tax and labour provisions for manufacturing growth. The Manufacturing Industry Promotion Board directed acceleration of National Manufacturing Policy implementation and NIMZ development, endorsed lodging the Technology Acquisition and Development Fund within the Global Innovation and Technology Alliance to operationalise the Fund, instructed the Ministry of Labour to convene a tripartite meeting to finalise an Industrial Disputes Act amendment, required the Department of Revenue to include NMP approved capital gains tax relief in the Direct Tax Code Bill, and tasked the Department of Heavy Industry and the National Manufacturing Competitiveness Council to propose measures and identify tariff lines to strengthen the capital goods sector.