According to the Minister, India needs to expand its manufacturing sector to boost exports and ensure sustainability. As part of India’s national manufacturing policy (NMP), the country is seeking to boost the sector’s growth and ramp up its share in the country’s GDP to 25 per cent from the current 15-16 per cent in the next decade. The target is to create 100 million jobs by 2022.
The decline in manufacturing sector growth rate has cast its shadow on the country’s exports that slowed down to about 6 per cent in November last. Sharma later met around 80 business leaders from India and abroad at an investment round-table here, and met top executives of global firms, including Diageo, Heineken and Shell, and pitched the India growth story. (PTI)