SME Times News Bureau | 06 Dec, 2018
DIPP Principal Economic Adviser Anand Singh Bhal on
Wednesday said the New Industrial Policy, to be announced soon, will
address the challenges faced by the manufacturing sector encompassing of
adoption of standards and quality control to impart competitiveness and take
Indian manufacturing to the next level of technology to make
the country's industrial base strong.
Speaking at the 'India - Korea Technology & Education
Exchange Forum', Bhal said that India has moved from an agrarian
economy to service dominated one. The manufacturing sector has lagged and
the time is opportune to give primacy to this sector.
"India is not a very strong manufacturing nation and only
contributes to 16 per cent of our GDP which is not very good," he added.
'Make in India' initiative, the Government of India aims to increase the share
of the manufacturing sector to the gross domestic product (GDP) to 25 per cent
He also said that India had a lot to learn from South Korea in
terms of innovation in the manufacturing sector and creating a robust
The learnings and their implementation will also create large
avenues for employment, the burden of which is currently borne by the services
sector, he said.
Amita Prasad, Director General, National Productivity Council
(NPC), said that NPC plays a key role in promoting productivity by
harnessing the strengths of technology in education.
The government has planned to develop five incubation centres for
Internet of Things (IoT) start-ups as part of Prime Minister?s plan of 'Digital
India' and 'Start-up Campaign' with at least two centres to be set-up in the
rural areas to develop solutions for smart agriculture, she added.
She said that both India and Korea can partner on India?s flagship
initiatives such as 'Make in India', 'Skill India', 'Digital India', 'Start-up
India' and 'Smart Cities Mission' and added that NPC had already singed a MoU
with KPC and KIBC and these MoUs could be leveraged to deepen the partnership.