Govt to Address Manufacturing Challenges with New National Committee

New Delhi, Feb 3 (KNN) In a strategic move to enhance India's manufacturing sector, Commerce and Industry Minister Piyush Goyal has announced the formation of a new committee under the National Manufacturing Mission.

The committee will delve into critical issues such as reducing the cost of doing business, developing a future-ready workforce, and ensuring the availability of cutting-edge technology to further fuel the Make in India initiative.

The committee will consist of representatives from the Centre, state governments, and the private sector. Its core responsibility will be to identify key focus areas that are not only futuristic but also hold strong demand both domestically and internationally.

These insights will then translate into actionable recommendations on steps the government should take to bolster the sector.

Goyal emphasised that the committee would examine these issues in-depth, with contributions from various ministries and private sector players. It will look into sectors where India has a competitive edge and strong export potential, thus creating a roadmap for future growth.

In line with this initiative, Finance Minister Nirmala Sitharaman recently announced a broader mission aimed at promoting manufacturing across small, medium, and large industries.

This mission, which will provide comprehensive policy support, governance frameworks, and execution roadmaps, will focus on five key areas: improving the ease and cost of doing business, creating a workforce skilled for in-demand jobs, strengthening the MSME sector, ensuring access to modern technology, and enhancing product quality.

Minister Goyal has pledged to fast-track the implementation of these measures, with particular attention to startups, especially those working in deep tech and located in smaller cities.

This will provide a boost to entrepreneurial ventures that are poised to drive innovation and growth in the sector.

Currently, manufacturing contributes about 16-17 per cent to India’s GDP. With the government's concerted efforts, it aims to increase this share, especially as the industrial production growth showed a strong uptick in November 2024, signaling a promising outlook for the sector.

(KNN Bureau)