The government is aiming at 13 % manufacturing growth next year, while the current year’s manufacturing growth is more than 11 %. At present, the share of manufacturing in India’s GDP is 17 % and “ we are hoping to increase it to 25 %”, Shri Kamal Nath, Minister of Commerce and Industry, said at a meeting with a delegation of the Japanese Machinery Federation which is on a business mission to India, led by Dr. Tsutomu Kanai, Chairman of the Federation.
The Minister said that the highest priority was being accorded to manufacturing sector, as job creation was of utmost importance in view of the country’s young age profile. The delegation conveyed the keenness of Japanese machinery industry to cooperate with their Indian counterparts. India was steadily emerging as a manufacturing hub of Asia, with a number of Japanese machinery companies locating in India. However, infrastructure bottlenecks often hindered such collaboration, they said.
The Minister assured the delegation that infrastructural development was being addressed on a priority basis so that the high manufacturing growth rate could be sustained and further accelerated. Later, the Minister also met a delegation of the Japan-India Business Cooperation Committee, headed by Mr. Nobuo Ohashi, Chairman of the Committee.
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(Release ID :24844)