New Manufacturing Policy to Create 100 Million Jobs in India

The Government of India has announced a national manufacturing policy with the objective of enhancing the share of manufacturing in GDP to 25% within a decade and creating 100 million jobs.  It also seeks to empower rural youth by imparting necessary skill sets to make them employable.  Sustainable development is integral to the spirit of the policy and technological value addition in manufacturing has received special focus.

NIMZs are envisaged as large areas of developed land with the requisite eco-system for promoting world-class manufacturing activity.

The objective of Special Economic Zones –

To promote exports, while NIMZs are based on the principle of industrial growth in partnership with States and focuses on manufacturing growth and employment generation.

NIMZs are different from SEZs in terms of size, level of infrastructure planning, governance structures related to regulatory procedures, and exit policies.

For the Financial Year 2016 – 2017, Rs. 3.35 crores has been earmarked under the ‘Scheme for Implementation of National Manufacturing Policy’ for ‘Master Planning of NIMZs’ and Technology Acquisition and Development Fund (TADF).

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