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Home arrow News arrow Business News arrow MS Ahluwalia calls for focused strategy to accelerate manufacturing growth
MS Ahluwalia calls for focused strategy to accelerate manufacturing growth Print E-mail
Written by Ganesh   
Wednesday, 13 July 2011
New Delhi: Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Government of India, has said that a focused strategy would be required to accelerate growth in the manufacturing sector. The Government aims to increase the contribution of the manufacturing sector to 25 per cent of the GDP by 2020 from the current level of about 16 per cent.

He said that one of the objectives of the 12th Plan should be to analyse and to find out what needs to be done from policy point of view to produce a much faster manufacturing growth.

He said that manufacturing would play a major part in accelerating the country's economic growth. He added that the thrust for the next Plan period would have to be improved infrastructure, availability of power etc. in order to drive manufacturing growth.

The country's industrial production has moderated to 5.6 per cent in May this year from 8.5 per cent in the same month last year, mainly on account of the poor performance of the manufacturing sector.

The manufacturing sector, which accounts for over 75 per cent of the total weight of the index, grew by just 5.6 per cent in May, 2011, as against 8.9 per cent in the same month of 2010.

Montek Singh Ahluwalia also said that in the course of the year there will be some improvement in the IIP numbers and that the May numbers are not necessarily predictive of the whole year.

 
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