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Govt includes gems and jewellery, SMEs sector under Make in India scheme

Tags: smes, department of industrial policy and promotion, fdi policy, gdp, domestic investors

December 15, 2014 | COMMENTS ( 0 )

Govt includes gems and jewellery, SMEs sector under Make in India scheme

The Union Government said that it has incorporated five more sectors including gems and jewellery, SMEs under ‘Make in India' programme, according to a PTI report.

Apart from these three sectors, 25 additional sectors have been identified by government which has the ability to alleviate the position of India in the manufacturing sector. These sectors include pharmaceuticals, automobiles, textiles, aviation, mining, chemicals, etc.

The above sectors need the significant attention to define growth drivers, investment opportunities, FDI policy, sectoral policies and specific reasons to invest.

"Five more sectors are expected to be added, including gems and jewellery and SMEs (small and medium enterprises). The aim is to boost manufacturing sector's growth and increase its share in the country's GDP," an official told PTI.

The PTI report further stated that the manufacturing sector now contributes about 16-17 per cent and the government aims to increase it to 25 per cent by 2022. Therefore the Department of Industrial Policy and Promotion (DIPP) has taken various initiatives in a bid to ease the business environment and boost manufacturing.

Besides, the DIPP has also set up an 8-member expert panel to address the queries of global and domestic investors.
 

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