What is/are the recent policy initiative(s) of Government of India to promote the growth of manufacturing sector?
- Setting up of National Investment and Manufacturing Zones
- Providing the benefit of ‘single window clearance’
- Establishing the Technology Acquisition and Development Fund.
Select the correct answer using the codes given below:
[UPSC Civil Services Exam – 2012 Prelims]
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
- The National Manufacturing Policy was officially endorsed by the Government in October 2011. This policy has set forth several key objectives, including increasing the contribution of the manufacturing sector to the country’s gross domestic product (GDP) to 25% and generating an additional 100 million job opportunities within a span of approximately ten years.
- One of the significant provisions of the National Manufacturing Policy is the promotion of clusters and aggregation, with a specific focus on establishing National Investment and Manufacturing Zones (NIMZs). Currently, out of the twelve NIMZs that have been announced, eight are situated along the Delhi-Mumbai Industrial Corridor (DMIC). Thus, statement 1 is correct.
- The policy also entails advisory support to states in simplifying and rationalizing business regulations, as well as emphasizing skill development. Additionally, it outlines the establishment of an approval and monitoring mechanism. This demonstrates the commitment to streamlining state-level business regulations and fostering a single-window clearance system. Therefore, statement 2 is correct.
- Moreover, under the National Manufacturing Policy, a scheme has been formulated called the Technology Acquisition and Development Fund (TADF), which aims to facilitate technology acquisition and development. This further validates statement 3 as correct.