Mega industrial zones to promote manufacturing | business | Hindustan Times
Today in New Delhi, India
Dec 10, 2016-Saturday
New Delhi
  • Humidity
  • Wind

Mega industrial zones to promote manufacturing

business Updated: Apr 01, 2010 21:22 IST
Highlight Story

The government has proposed the setting up of mega national manufacturing investment zones (NMIZs) to drive industrial growth in this decade.

In a discussion paper, the Department of Industrial Policy and Promotion (DIPP) has proposed the formation of these mega zones that will house special economic zones, regular industries, industrial parks and export oriented units (EoUs).

An area would be specifically delineated for the establishment of manufacturing facilities for domestic and export-led production, along with allied services and infrastructure.

The objective of setting up NMIZs is to increase the sectoral share of manufacturing in GDP to 25 per cent by 2022 and make the country a hub for both domestic and global markets.

Commerce and industry minister Anand Sharma said India will have to attract new technologies to emerge as the world’s workshop.

“The new manufacturing policy being developed in consultation with stakeholders would be a driving force in making India the manufacturing hub of the world,” Sharma said speaking at a function organised by the Confederation of Indian Industry (CII).

Besides a processing area, the NMIZs would have a non- processing area, to include residential, commercial and other social and institutional infrastructure.