Various initiatives taken to Boost Industrial Production

The industrial performance measured in terms of Index of Industrial Production (IIP) reflects movements in production of manufacturing, mining and electricity over base of 2004-05. The IIP in 2013-14 was 172.0 and stands at 171.7 during April-September, 2014-15 over the base of 2004-05. The growth of Manufacturing and Mining sectors of IIP was negative during 2013-14, which has turned positive at 2.0 % and 2.1 % respectively during April-September, 2014-15.

The Government is continuously making efforts to boost industrial production in the country. For the creation of conductive business environment, the Government is constantly simplifying and rationalizing the processes and the procedures relating to boosting investor sentiment, and simplifying the Foreign Direct Investment policy. Inter alia, the Government has launched the e-biz Mission Mode Project under the National e-Governance Plan, and is implementing the Delhi Mumbai Industrial Corridor (DMIC) project, and in addition, have conceptualized Amritsar Kolkata Industrial Corridor, Chennai-Bengaluru Industrial Corridor, Bengaluru Mumbai Economic Corridor and the Vizag-Chennai Industrial Corridor (as the first phase of an East Coast Economic Corridor), and setting up of a National Industrial Corridor Development Authority for coordinating and overseeing progress of the various industrial corridors. The Union Budget 2014-15 has also announced a number of administrative and fiscal measures to revive the industrial growth in the country. More recently, the Government has launched a Make in India programme with 25 thrust sectors.

 

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