Government of India brought out the National Manufacturing Policy (NMP) to bring quantitative and qualitative change in the manufacturing sector with the aim to increase the manufacturing sector growth to 12-14% over the medium term to enable manufacturing sector to contribute at least 25% of the National GDP by 2022 and also by creation of 100 million additional jobs by 2022.The manufacturing sector grew by 3.3% during April-December 2015 as compared to 1.8% during the corresponding period in 2014. As per CSO, the share of manufacturing in GDP at current prices is 14.69% during 2015-16.
Various policy measures taken by the Government for creating enabling environment for industrial growth have started showing its impact on increased FDI inflows and creation of state-of-art infrastructure. The landmark initiatives like Make in India, Ease of Doing Business, Start Up India, Digital India, and Smart Cities, etc. will provide further impetus to industries and the manufacturing sector is expected to be the key driver of economic growth in the country. Presently, there is no proposal to amend the NMP under consideration of the Government.
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