The Ministry of Commerce and Industry is currently in the process of finalising its 100-day programme under the new government to boost manufacturing as well as merchandise exports. According to ministry sources, dozens of sectors are being selected for manufacturing and export promotion. There is a huge potential to increase exports in these sectors, which will make India an important part of the world’s supply chain. The government wants to take exports to $1 trillion by 2030 and these sectors can play an important role in achieving this goal.
In these sectors, preparations will also be made to meet their needs like transportation, power supply, logistics, digital connectivity to make India a global manufacturing hub. Policy frameworks will be designed for them so that they do not have to engage with different types of regulatory agencies and face minimal procedures. Some changes can also be made regarding their tax format. According to sources, more than giving incentives to entrepreneurs to become manufacturing hubs in dozens of sectors, the emphasis will be on meeting their various needs. Government agencies can help them in the availability of raw materials from new markets at cheaper prices. Incentives for these sectors may also be announced within 100 days of the formation of the new government.
Footwear has been included in the focus sector
The drone and automobile sector has been included in the focus area because India has the potential to significantly increase its production in these sectors. Recently, the government has announced to implement quality control rules on footwear, which will give a big boost to the footwear industry. That is why it has been included in the focus sector.
Will be self-sufficient in medical devices
After taking a lead in mobile phone manufacturing, India now wants to develop the entire chain of semiconductor manufacturing domestically. That is why ESDM has been included in the focus sector. India imports more than 60 per cent of its medical devices. We have to become self-reliant in this sector. Chemicals have also been included in the focus area.
