India warming up to become a major manufacturing hub in the global map

Brand Name

India warming up to become a major manufacturing hub in the global map

12 Sectors identified for accelerating economic growth of the country

Thursday, 7th May 2020


The economic activities in the country were stalled due to large scale lockdown but it seems that the government has realized the need of an effective plan to help the economy revive from this massive blow. The government led by PM Modi is trying its best to convert our beloved country into prominent a manufacturing hub…recently, the Commerce & Industry ministry of the country has identified certain major sectors- such as Chemicals, Leather and Capital goods-  with the purpose of establishing India as a manufacturing hub.

 

Through numerous meetings with the stakeholders including the various industry chambers, identification of the key sectors that are potent enough to stand out as global winners was undertaken. By harnessing the power of these sectors India could be transformed into a powerful manufacturing hub of global repute.

 

There are key sectors numbering to 12 that may be focused on in this respect. Among these sectors, there are following sectors as listed below:

  • Toys

  • Food Processing (Ready-to-eat foods)

  • Modular Kitchen

  • Pharmaceuticals

  • Auto components

  • Textiles (man-made fibers)

  • Air Conditioners

  • Capital Goods

  • Agro-Chemicals

 

Groups as well as sub-groups have been formed in order to execute this matter by appointing various representatives from the industry chambers such as Assocham and CII. The newly constituted core group will be responsible for identifying certain specific policies worth implementation based on the issues such as employment potential, technological capability and domestic demands as well as global demands.

 

Recently Piyush Goyal; the country’s Commerce & Industry Minister has declared that after the Covid crisis ends there will definitely be a massive shift in global supply-chains and Indian exporters and industrialists is hoping to grab major share in the arena of World Trade. He has added that the concerned departments of the ministry are working towards identifying those specific sectors that could be developed further to bring about large-scale progress pertaining to the country’s export goals.

 

It has been stated that such promotion of the manufacturing domain will opening many new jobs avenues. 15% of the country’s economic resources come from the manufacturing sector and the government has pinned its hopes on this particular sector and intends to strengthen it significantly.

 

 

Source: Zeebiz


Top Stories
Download video from a Converthub online ..
Impact Feature: अमेरिकन ..
South Newsmakers of Week: Ram Charan & S..
What Makes Gandhis CWC a Team Amidst the..
Kerala Sees a Dip in Total Covid-19 Case..
Bangladesh “Just not Good Enough”, S..
Udanpirappe Movie Review: A family drama..
5 Superfood-Enriched Products for Health..
5 Superfoods Against Anxiety and Stress..
5 Small Lifestyle Changes You Can Make t..