Cabinet note soon on new manufacturing policy: Sharma

Amid strong signs of an industrial slowdown, commerce and industry minister Anand Sharma on Wednesday said a cabinet note will soon be prepared to formalise the proposed national manufacturing policy paving the way for creating India’s own versions of China-style mega industrial cities peppered across the country equipped with production units, public utilities, residential areas, schools and hospitals.

Amid strong signs of an industrial slowdown, commerce and industry minister Anand Sharma on Wednesday said a cabinet note will soon be prepared to formalise the proposed national manufacturing policy paving the way for creating India’s own versions of China-style mega industrial cities peppered across the country equipped with production units, public utilities, residential areas, schools and hospitals.

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“Some fine tuning is required. A committee of secretaries headed by the principal secretary to the Prime Minister is looking into it,” Sharma said during a meeting with senior members of the Confederation of Indian Industry (CII). “Other meetings which will take place within the next 10 days will help us in bringing this to a successful conclusion. Soon we will be in a position to circulate Cabinet note on the policy,” Sharma said.

Sharma will chair a joint task force to have a structured format of regular dialogue between industry and the government.

“Industry is confident that actions will be taken, reforms will be speeded up and I do see positive things,” CII president and Tata Steel vice-chairman B Muthuraman said.