Professor Hausmann said that India should focus more on providing right kind of ecosystem to its manufacturing sector than providing fiscal incentives which may not yield desired results. Traditional industrial policy had focused more on fiscal incentives and less on building productive capabilities of the country.

Arun Maira, Member, Planning Commission, in his remarks emphasized that the objective of the National Manufacturing Policy is to achieve a growth rate for Indian manufacturing sector which is 2-3 % higher every year than India’s GDP growth rate.

He also emphasized that a successful implementation of manufacturing policy would require – cooperation between industry and policy makers, coordination with in the Government and coordination with industry associations. He also highlighted the importance of human resource and urged the industry to take a lead in developing skills which are currently lacking in the industry.

R V Kanoria, Senior Vice President, FICCI, said that Prime Minister’s in-principle nod to the National Manufacturing Policy is a significant step forward for a sector whose share has stagnated at 16% for the last two decades in country’s GDP but he said there are few issues which also need to be addressed to increase manufacturing’s share in GDP like, development of physical infrastructure, implementation of GST, cross subsidization of power etc.