Manufacturing is the key sector to India's growth and social equality, says DIPP Chairman
Updated: Sep 25, 2015 01:08:31pm
New Delhi, Sept 25 (KNN) Chairman, Expert Committee on Regulatory Affairs, DIPP, Ajay Shankar said manufacturing sector is the key to India’s growth and social equality.
“Growth in the manufacturing sector is no longer an aspiration but a necessity for us,” he said at CII flagship 14th Manufacturing Summit 2015 on Thursday.
Highlighting the connection between the services and manufacturing sector, Shankar said that the two have to become partners in creating jobs and value in India.
For a long time we had this wrong idea that we will bypass manufacturing and directly become a service industry economy. The world has changed and so has this old way of thinking manufacturing and services as different, he said.
On domestic value addition, the chairman said creating modern policies can help the manufacturing sector without giving way to protectionism and instead inspire competitiveness.
“We need to find creative ways to find more domestic demands for domestic value addition. This we have to do without becoming protectionists. We have a huge challenge before us because many of our policies have become dated,” he said.
On creating a competitive environment for the manufacturing sector, the chairman said manufacturing needs the same policy push to deliver results and drive competitiveness.
It’s a misconception that IT growth happened inspite of the government. IT sector growth happened because of the government and the laws and policies they implement to support the industry, he said. (KNN Bureau)
“Growth in the manufacturing sector is no longer an aspiration but a necessity for us,” he said at CII flagship 14th Manufacturing Summit 2015 on Thursday.
Highlighting the connection between the services and manufacturing sector, Shankar said that the two have to become partners in creating jobs and value in India.
For a long time we had this wrong idea that we will bypass manufacturing and directly become a service industry economy. The world has changed and so has this old way of thinking manufacturing and services as different, he said.
On domestic value addition, the chairman said creating modern policies can help the manufacturing sector without giving way to protectionism and instead inspire competitiveness.
“We need to find creative ways to find more domestic demands for domestic value addition. This we have to do without becoming protectionists. We have a huge challenge before us because many of our policies have become dated,” he said.
On creating a competitive environment for the manufacturing sector, the chairman said manufacturing needs the same policy push to deliver results and drive competitiveness.
It’s a misconception that IT growth happened inspite of the government. IT sector growth happened because of the government and the laws and policies they implement to support the industry, he said. (KNN Bureau)
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