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DPIIT draft industrial policy targets USD one trn value addition in manufacturing

Wednesday, 20 Nov 2019
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The Department for Promotion of Industry and Internal Trade (DPIIT) has prepared an initial draft industrial policy which targets to raise  value addition in the manufacturing sector to USD one trillion by 2025.

The policy envisions to create globally competitive business enterprises which can generate employment. It includes creating industry that is equipped with innovation, technology; financially viable and environment friendly.  

The initial draft policy is being circulated to seek views of different ministries and departments.

The policy will work in tandem with the Skill India Mission to improve employability of future workforce, and with foreign trade policy to enhance India's share in global merchandise exports.

The draft has also proposed a detailed implementation mechanism of the industrial policy under which it has suggested setting up a national industrial competitiveness council and a steering committee.

The new industrial policy was sent to the Cabinet in 2018, but some new suggestions were made and it is being reworked by DPIIT.

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