The government is in the process of preparing a national manufacturing policy and has already prepared a draft document, which will be discussed at a high-level meeting chaired by the prime minister on 9 June.
Announcing this at a function in Bengaluru today, commerce and industry minister Anand Sharma said the key policy thrust of his ministry is on providing greater push to the growth of manufacturing.
Sharma was speaking at a function to lay the foundation stone of the Nano-Manufacturing Technology Centre (NMTC) and the Academy of Excellence for Advanced Manufacturing Technology (AEAMT) at the Central Manufacturing Technology Institute (CMTI).
The objective of the policy, he said, is to identify key instrumentalities by which we can augment the share of manufacturing in our GDP from 15 per cent to 25 per cent by 2025. This will entail a growth in manufacturing at 12-14 per cent. This, he added, would help the economy sustain the momentum of economic growth in the range of 9 per cent while creating 100 million jobs in domestic industry by 2025.
Sharma expressed satisfaction that the CMTI has been continuously updating its facilities and expertise in thrust areas of manufacturing technology. digital design and product lifecycle management, precision engineering, rapid prototyping, mechatronics and nanotechnology.
The Central Manufacturing Technology Institute (CMTI), established in 1963, is a premier institute and the only one of its kind in the country carrying out applied research and development and pre-competitive R&D in manufacturing technology.