The Department for Promotion of Industry and Internal Trade (DPIIT) has shared a list of 24 key sectors with respective ministries asking them to work on an action plan with a view to boost domestic manufacturing.
These include food processing, toys, furniture, agro chemicals and textiles. The other sectors include organic farming, iron, aluminium and copper, electronics, industrial machinery, furniture, leather and shoes, and auto parts.
Each ministry has been sent those sectors to identify their response. What incentives the sectors need, what policy tweaking required, the respective ministries will have to do that.
The government wants to make India a self-reliant country in these segments, boost exports and become a global supplier.
DPIIT is working actively on promoting domestic manufacturing of toys and furniture. Promoting manufacturing will help create more jobs and push India’s dwindling exports.
The manufacturing sector contributes about 15 percent to the country’s economy and the government is aiming to increase it significantly.