There is an urgent need to ease the business regulatory environment, focus on SMEs, human assets, enhance use of technology and innovation, upgrade physical, administrative and institutional infrastructure and most importantly create more and more national manufacturing & investment zones in order to revamp the ailing manufacturing sector and in turn the Indian economy, said Arun Maira, Member, Planning Commission.
There is an urgent need to ease the business regulatory environment, focus on SMEs, human assets, enhance use of technology and innovation, upgrade physical, administrative and institutional infrastructure and most importantly create more and more national manufacturing & investment zones in order to revamp the ailing manufacturing sector and in turn the Indian economy, said Arun Maira, Member, Planning Commission.
Maira was addressing the session on 'Manufacturing, the next big opportunity for India' organized as part of Invest North conclave organized by CII in New Delhi on Tuesday.
He said that a sound manufacturing sector can solve the problem of huge Demand - Supply gap, higher imports and alarming Current Account Deficit (CAD) which has led to an adverse impact on the socio-economic condition of the country.
Sumit Mazumder, Vice President, CII and Vice Chairman & Managing Director, TIL Limited said, “Significantly low labour productivity is yet another national concern and there is a need to initiate structured skill development initiatives at all relevant levels to address the same.
"There is a need to reform age old laws and acts in addition to development of supporting infrastructure to encourage expansion of manufacturing in the country," said Jayant Davar, Chairman, CII Northern Region.
Naoyoshi Noguchi, Chief Director General, Japan External Trade Organization (JETRO) suggested to replicate the model being followed by the Government of Thailand wherein they have been providing rental factories for SMEs.
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