The Government of India has announced the National Manufacturing Policy on November 4, 2011 with the objective of enhancing the share of manufacturing in GDP to 25 per cent and creating 100 million jobs over a decade or so, said the Union Minister of State in the Ministry of Commerce and Industry EM Sudarsana Natchiappan in Rajya Sabha on December 11.
It also seeks to empower rural youth by imparting necessary skill sets to make them employable. National Investment and Manufacturing Zones (NIMZs) are an important instrumentality of the policy.
These zones are conceptualized as integrated industrial townships with the elements necessary to help the growth of manufacturing, e.g. state-of-the-art infrastructure; clean and energy efficient technology; simplified business regulations; and the necessary social and institutional infrastructure.
NIMZs are different from SEZs in terms of size; level of infrastructure planning; governance structures related to regulatory procedures; exit policies; and fiscal incentives.
It is not possible to assess the impact of specific National Investment and Manufacturing Zones (NIMZs) on the share of manufacturing in the countryÂ’s GDP at this stage, as the zones are in the initial phases of development.
Leave a Reply
You must be logged in to post a comment.