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2011-06-10

National Manufacturing Policy gets approved

Prime minister approved the draft and gave it a go ahead

National Manufacturing Policy gets approved

Prime Minister Manmohan Singh Thursday chaired a key meeting that cleared the ambitious National Manufacturing Policy amid concerns expressed by some members about the creation of national investment and manufacturing zones (NIMZs).

The meeting, which was attended by Finance Minister Pranab Mukherjee, Commerce and Industries Minister Anand Sharma, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia, Environment and Forests Minister Jairam Ramesh, Corporate Affairs Minister Salman Khurshid and Economic Advisory Council Chairman C. Rangarajan, gave an in-principle approval to the policy.

The creation of national investment and manufacturing zones (NIMZs), as mega investment regions equipped with world-class infrastructure, has been proposed as a major policy instrument, said a statement from the Prime Minister's Office (PMO).

The prime minister observed that the policy measures proposed would reduce the compliance burden on industry. "At the same time, these measures have to be formulated while adequately taking care of the environmental and labour welfare concerns. He directed that these issues may be further discussed at the ministerial level," the statement said.

He further directed that this consultation process be completed within one month, so that the National Manufacturing Policy can be brought before the cabinet and the final policy announced, which will send a positive message to the investing community, said the PMO statement.

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