What are the objectives of National Manufacturing Policy? (HPAS Mains Question Paper 2022 – GS 3, Q.2)
The government of India decided to bring out the National Manufacturing Policy to bring about a quantitative and qualitative change with the following objectives:
- Increase manufacturing sector growth to 12-14% over the medium term to make it the engine of growth for the economy. The 2 to 4 % differential over the medium-term growth rate of the overall economy will enable manufacturing to contribute at least 25% of the National GDP by 2022.
- Increase the rate of job creation in manufacturing to create 100 million additional jobs by 2022.
- Creation of appropriate skill sets among the rural migrant and urban poor to make growth inclusive.
- Increase domestic value addition and technological ‘depth’ in manufacturing.
- Enhance the global competitiveness of Indian manufacturing through appropriate policy support.
- Ensure sustainability of growth, particularly with regard to the environment, including energy efficiency, optimal utilization of natural resources and restoration of damaged/ degraded ecosystems.