India to Expand Manufacturing Sector, Create New Jobs with Sustainable Planning

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India to Expand Manufacturing Sector, Create New Jobs with Sustainable Planning
India to Expand Manufacturing Sector, Create New Jobs with Sustainable Planning

India to Expand Manufacturing Sector, Create New Jobs with Sustainable Planning

Whereas the Chinese manufacturing sector is slowing down, India is looking to create as many as 100 million skilled jobs in the manufacturing sector. The country is also trying to raise the share of manufacturing sector in gross domestic product (GDP) to 25 percent from 16 percent. In his statement Commerce and Industry Minister Anand Sharma hoped that this would be possible by 2022.

Mr. Sharma is of view that India aims to raise manufacturing (sector’s) share of GDP from 16 per cent to 25 per cent and create 100 million skilled jobs. According to the minister this is a must do for the government of India as there is no other option with it to give employment to millions of youths who form a majority now in India.

Manufacturing Sector Will Provide Employment for Millions

Addressing the gathering in a World Economic Forum (WEF) session on manufacturing Anand Sharma said that India needs to expand its manufacturing sector to boost exports and ensure sustainability. The country which heavily depends on service sector is now looking for exploring the manufacturing sector amidst the increasing human resources available.

According to the Commerce and Industry Minister India’s national manufacturing policy (NMP) is aimed at boosting the manufacturing sector’s growth and ramp up its share in the country’s GDP to 25 percent which currently lags behind at 15-16 percent. However, the major aim of the policy measure is to generate employment and produce job opportunities for more than 100 million by 2022.

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Gujarat, India’s Guangdong is Ahead in the Manufacturing Sector

India has seen a lot of decline in the manufacturing sector in the last couple of years thanks to the policy paralysis and it has cast its shadow on the country’s exports that slowed down to about 6 percent in November last year. The government is facing a huge challenge not in the manufacturing sector but agriculture as well, as the directionless policies are not giving headway.

Whereas overall manufacturing has declined in India, one of the major industrial states in India Gujarat has been able to sustain the slowdown. In fact, the Gujarat government is promoting the manufacturing sector in a big way with the aim of improving the income and employability of the people of the state. The state’s chief minister Narendra Modi is expected to become the prime minister of the country.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com