New Board to implement Manufacturing policy soon
With an aim to revive manufacturing sector, Government announces of establishing a new board, Manufacturing Industry Promotion Board (MIPB).
- It will aid operationalize the national manufacturing policy
- It will be headed by Commerce and Industry Minister Anand Sharma
- It targets to create 100 million additional jobs and enhance the contribution of manufacturing from the present 16 % to 25% of the GDP within 10 years
As per CSO (Central Statistics Office), India’s economic growth has reduced to 9-year low of 5.3 % in January-March quarter, dragged by narrowing in manufacturing sector.
For the 2011-12 financial year, GDP has plummeted to 6.5%, lower than 6.7 % noticed during the global economic crisis period of 2008-09.
MIPB’s core functions will be :
- Periodically review the overall scenario of the manufacturing sector in the country. This will include review of state-wise and sector-wise performance of the manufacturing sector
- Review the implementation of the National Manufacturing Policy in general and the development of National Industrial Manufacturing Zones (NMIZs), wherever approved, in particular
- Resolve co-ordination issues among central ministries and between state governments and central ministries
The MIPB will have secretaries of:
- Department of Economic Affairs
- Labour and Employment
- Micro, Small and Medium Enterprises
- Road Transport and Highways
- Heavy Industry and Public Enterprises
- Science and Technology
- Environment and Forests and Member-Secretary
- National Manufacturing Competitiveness Council
- It will also have 2 industry representatives and Secretary Industry will be the Member Secretary of the Board
In addition Board of Approval, Green Manufacturing Committee and High Level Committee will also be set up to assist effective execution of the national manufacturing policy
What will be the role of Board of Approval, High Level Committee and Green Manufacturing Committee?
- The main function Board of Approval will be to examine applications for establishment of NIMZs and suggest such proposals for consideration to the High Level Committee that fulfill the criteria of the National Manufacturing Policy. After contemplation by the High Level Committee, the proposals will be forwarded for approval to Commerce and Industry Minister.
- The Green Manufacturing Committee will suggest objective criteria for categorizing a technology as "clean and green”. The criteria will be in line with the objective of the National Action Plan on Climate Change and the strategy for inclusive sustainable development.
What is the central theme of National Manufacturing Policy?
- The focus of National Manufacturing Policy is to create world class industrial infrastructure, a bonhomie in business environment, an ecosystem for technological innovation – particularly in the arena of green manufacturing, institutions for industry relevant skill upgradation, and mechanisms for making finance easily accessible for entrepreneurs.
Month: Current Affairs - June, 2012