FICCI suggests 12-point action plan to boost manufacturing sector

By admin October 31, 2013 6:27 am IST

FICCI suggests 12-point action plan to boost manufacturing sector
The suggestions in the FICCI mandate, if implemented, will lead to a 10 per cent manufacturing growth on a long-term basis and could create 67 million jobs in the manufacturing sector
With a focus on job creation and skill development, industry body FICCI suggested a 12-point action plan to ensure that manufacturing rebounds and creates jobs for the millions who are going to join the labour force in the next 10 to 15 years. The action plan outlines measures aimed at building an enabling policy framework to attract investments.
FICCI’s 12-point manufacturing mandate suggests, “A 10 per cent manufacturing growth on a long term basis with a potential to create 67 million jobs in manufacturing directly, provided some pro-active labour market policies are implemented as suggested in the mandate. With 10 per cent manufacturing growth, we can achieve a size of $950 billion by 2025 from the current size of $ 250 billion for our manufacturing sector and take the total employment in manufacturing to 115 million during the period. While, this remains short of the targeted additional employment of 100 million by 2025 as per the National Manufacturing Policy this would be more realistic given the current economic scenario.”
The Mandate suggests 12 broad areas with specific measures for the short and long term, to stimulate growth and job creation in manufacturing on a sustainable basis. These 12 areas are:. Macro-economic environment and measures. Taxation. Labour policies and workers’ housing. Feedstock, raw materials & electricity for manufacturing. Land for manufacturing. Industrial corridors and clusters. Ease of doing business. Infrastructure. Free trade agreements & international trade. MSME. Stimulating demand. Skill development.

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