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Need exports to grow at 25% for 15-16% mfg growth: DIPP

Secretaries finalised one year and three year action plan on Make in India, says DIPP secretary Amitabh Kant. He says specific sector-wise action plan will be implemented, while adding that the industry raised issues on predictable tax regime, infrastructure deficit, inverted duty structure and land availability.

Post the conclusion of the workshop on ‘Make in India’ on Monday, DIPP secretary Amitabh Kant says specific sector-wise action plan will be implemented, while adding that the industry raised issues on predictable tax regime, infrastructure deficit, inverted duty structure and land availability.

Secretaries finalised one year and three year action plan on Make in India. This is the first time ever that the prime minister and his Cabinet interacted with India Inc to discuss manufacturing issues.

He says there is no reason why India should not increase its share in global exports. There is a need to grow exports at 25 percent to push manufacturing growth to 15-16 percent. He says the government as well as the industry cannot allow export pessimisn in manufacturing strategy.

Industry also raised several issues regarding clearances from the environment ministry. The ministry on its part assured industry on steps being taken and that it is convinced that manufacturing needs impetus.

Kant says for India’s GDP to grow at a sustainable 8-9 percent, it is imperative that the manufacturing sector grows.

On the Reserve Bank’s interest rate stance, he says that RBI governor Raghuram Rajan is best equipped to take a call on interest rates.

Stay tuned for more…

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