Press Information Bureau

Government of India

Ministry of Commerce & Industry

04-November-2011 18:26 IST

Press Note No. 2 (2011 Series)

National Manufacturing Policy.

          The Government of India has announced a national manufacturing policy with the objective of enhancing the share of manufacturing in GDP to 25% within a decade and creating 100 million jobs.  It also seeks to empower rural youth by imparting necessary skill sets to make them employable.  Sustainable development is integral to the spirit of the policy and technological value addition in manufacturing has received special focus.

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National Manufacturing Policy launches NIMZs, streamlined clearances, job loss insurance, green tech funding and a three tier skilling push. The Policy creates National Investment and Manufacturing Zones (NIMZs) managed by Special Purpose Vehicles to provide master planned, greenfield industrial townships with streamlined, web enabled clearances, timelines with deemed approvals, and a defined exit mechanism incorporating an insurance based Job Loss Policy, sinking funds and procedures for asset redeployment while protecting worker entitlements; it also establishes a Technology Acquisition and Development Fund for green technologies, a Green Manufacturing Committee for eligibility and certification, and a three tier skill development framework with SPV coordination and incentives for SMEs and government procurement with local value addition.