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Home arrow News arrow Business News arrow Manufacturing Exports could touch US $ 300 Million by 2015: Anand Sharma
Manufacturing Exports could touch US $ 300 Million by 2015: Anand Sharma Print E-mail
Written by Ganesh   
Tuesday, 06 October 2009
New Delhi: Inaugurating a National Seminar on Industrial Productivity for Inclusive Growth, Shri Anand Sharma, Union Minister of Commerce and Industry said that the Government is committed to building infrastructure which would support robust industrial growth and reduce costs and that the investment in infrastructure has risen from 4.9% of GDP in 2002-03 to 6% of GDP last year.

"According to projections, India has a competitive advantage in skill intensive industry and if we capitalize on this trend, manufacturing exports could jump to 300 million dollars by 2015," said the minister.

While reiterating the challenges ahead, the Minister informed that the first challenge was: to create a reservoir of skilled manpower which is globally competitive. A key to achieving inclusive growth in its true spirit through building a strong skill development initiative which would transform the lives of people so that everyone can be an equal partner in our growth story. 

The second was improving labour productivity.  It is important that the SME sector should infuse modern technology to improve productivity. The Government has recently announced a policy dispensation which has removed the cap on foreign investment for small scale sector.

The third challenge was to drive manufacturing on a high growth trajectory.  While the country has secured impressive gains in the services sector, India is yet to emerge as a major manufacturing hub of the world.

The Minister stated that the Government has followed an inclusive model of economic growth to ensure that the benefits of growth percolate down to the poorest of the poor.  The collective challenge we face today is to ensure that the benefits of growth trickle down to all sections of society and to all parts of the country. We cannot allow a situation where we see islands of affluence amidst oceans of poverty. Growth in order to be sustainable must have a human face.  Indian industry has a crucial role to play in this regard and modern times demand the creation of a robust partnership between Government and industry.

In his address, Shri Sharma stressed that while India unleashes the true growth potential, it is important to ensure that the growth responds to the aspirations of the masses and the people should feel they are partners in the progress and not victims of development.  Rural India must grow along with urban India. Mahatma Gandhi Rural Employment Guarantee Act, today covers all the districts of the country assuring 100 days of employment to all able bodied people of India, the Minister said.

Shri Sharma emphasized the Government is committed for ensuring balanced regional development of the entire country so that while India grows all parts of the country should grow equally.  It shall remain the endeavour of our Government to ensure that the industrially backward areas of our country receive priority attention in terms of attracting investments and in generating gainful employment for the people.

The Seminar was attended by, Shri N.C. Vasudevan, Director General, National Productivity Council and Dr. Isher Judge Ahluwalia, Chairperson, ICRIER.

 
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