The Ministry has taken a number of measures to boost the industrial growth of the country. These, inter-alia, include announcement of National Manufacturing Policy (NMP), 2011, simplification and rationalization of the Foreign Direct Investment (FDI) Policy, implementation of Delhi Mumbai Industrial Corridor (DMIC) project, conceptualisation of Amritsar Kolkata Industrial Corridor (AKIC), launching of the e-biz Mission Mode Project under the National e-Governance Plan, and creating a joint venture ‘Invest India’ in association with FICCI. Besides, incentives are given for helping industries in difficult areas through plan schemes of Transport Subsidy/Freight Subsidy Scheme, special package of incentives for Special Category States, North-East Industrial & Investment Promotion Policy, 2007, and specific programmes like Modified Industrial Infrastructure Upgradation Scheme, Indian Leather Development Programmes etc.

The Ministry is carefully monitoring the impact of global economic slowdown on domestic economy. The industrial growth as reflected by the Index of industrial Production slowed down in the last two years. This has been on account of a number of factors including, inter-alia, economic slowdown in other parts of the world.

The information was given by the Minister of State in the Ministry of Commerce and Industry Dr. E.M. Sudarsana Natchiappan in Rajya Sabha today.

Industrial incentives drive growth: policy reforms and targeted schemes aim to bolster manufacturing amid global slowdown. The administration has adopted policy measures and targeted incentives to boost industrial growth: enactment of the National Manufacturing Policy, reform of the FDI framework, development of major industrial corridors, e Biz facilitation, and establishment of an Invest India joint venture. Complementary support includes transport/freight subsidies, a special package for Special Category States, the North East Industrial & Investment Promotion Policy, and sectoral programmes like infrastructure upgradation and leather development. Monitoring of industrial output shows a slowdown partly linked to global economic conditions.