DPIIT draft of the industrial policy aims at improving global competitiveness of the industry
Also targets USD $1 trillion value addition in manufacturing
The Department for Promotion of Industry and Internal Trade (DPIIT) has created an initial draft of the industrial policy. It aims at raising the value in the manufacturing sector to $1 trillion by 2025. The policy it focuses on creating a globally competitive environment that will help further to generate employment. Also, envisages the sector featuring technology and innovation while it also has to be financially viable and sustainable.
DPIIT is now seeking feedback and views of the various industries on the draft.
The policy is expected to work alongside other initiatives of the Government of India’s initiatives including Skill India. Additionally, draft describes in detail the implementation mechanism of industrial policy in which it also proposes establishment of a national industrial competitiveness council and a steering committee.