India’s industrial output up 4.8% during April-Oct
To improve ease of doing business, the government has set up an investor facilitation cell, e-biz mission mode project and liberalised policy for industrial license for defence industriesIndia’s industrial growth, measured in terms of Index of Industrial Production (IIP), increased by 4.8% during April-October this year, according to the Ministry of Commerce and Industry. The three industrial sectors i.e. mining, manufacturing and electricity registered a positive growth of 2%, 5.1 % and 5.2 % respectively during the period. Commerce Minister Nirmala Sitharaman on Monday highlighted the government’s already-implemented initiatives and future plans for boosting the country’s industrial growth. “The government is implementing various schemes and programmes and is taking measures for boosting industrial growth of respective sectors e.g. for modernisation and technology upgradation with emphasis on power loom segment and development of handlooms, etc. for textiles and mega food parks scheme for food processing,” said Sitharaman on Monday. With the National Manufacturing Policy within Make in India, the government aims to focus on sectors such as textiles and garments, leather and footwear, gems & jewellery and food processing and labour-intensive industries. To improve ease of doing business, the government has also set up an investor facilitation cell, e-biz mission mode project and liberalised policy for industrial license for defence industries. Aimed at building country’s infra capacity, key connecting corridors including Delhi Mumbai Industrial Corridor (DMIC), Amritsar Kolkata Industrial Corridor, Chennai-Bengaluru Industrial Corridor, Bengaluru Mumbai Economic Corridor and Vizag-Chennai Industrial Corridor are currently being developed. The government has set up National Industrial Corridor Development Authority (NICDA) to coordinate and oversee progress of the various industrial corridors. It has also simplified the foreign direct investment (FDI) policy to attract foreign companies in India’s industrial sector.
December 22, 2015 |03:30pm IST
to success.