With the aim of increasing manufacturing sector's share in to the GDP, a manufacturing policy is likely to be unveiled in the next couple of months, Minister of State for Commerce and Industry Jyotiraditya Scindia said today.
"Manufacturing sector's contribution to GDP is 16 per cent and that is just not enough," Scindia said at the India Economic Summit organised by CII.
Manufacturing sector in developed and other emerging economies contribute about 25-26 per cent to their GDP.
The industry ministry is in process of formulating a national manufacturing policy with an aim to increase the share of manufacturing in GDP to 25 per cent by 2022.
The minister said that the national manufacturing policy is currently being discussed with ministry of labour, finance and environment.
When asked when the policy was expected, Scindia said, "in the next couple of months".
The industry ministry has floated a discussion paper on national manufacturing and investment zones (NMIZs). The NMIZs will be areas demarcated to set up manufacturing facilities, along with associated services and infrastructure.