Government has decided to revamp the “2011 vintage” manufacturing policy to align it with programmes like ‘make in India’, digital India, skill India and industrial revolution 4.0, meaning high end automation.
The move is also aimed at protecting interests of all segments – highly automated, partly automated or SMEs which are yet to go for automation. This was stated by commerce and industry minister Nirmala Sitharaman.
It was necessary to modify the policy in view of several initiatives such as ‘make in India’, ‘digital India’ and `skill India’ in addition to relaxing of foreign investment policy, taken by the government in the last three years, the minister told PTI in an interview.
The revamped policy was also necessary to protect the interests of all segments of industry, be it highly or partly automated and SMEs which are yet to adopt modern technologies.
She further notifies that the initiatives like ‘make in India’, ‘digital India’ and ‘skill India’ must find a place in the national manufacturing policy since these are aimed at making India a manufacturing hub.
The NMP, formulated in 2011, provides tax and other benefits to boost the sector’s growth. Industrial revolution 4.0 encompasses use of robotics, artificial intelligence, Internet of Things, data analytics and automation.
By Baishakhi Dutta