SME Times News Bureau | 10 Mar, 2021
The Government has implemented major reforms in the last one
year to boost domestic manufacturing, industrial production and GDP growth,
said Minister of State in the Ministry of Commerce and Industry Som Parkash on
Wednesday.
Production-Linked Incentive (PLI) Scheme in 13 key sectors,
under the aegis of Aatma Nirbhar Bharat, have been announced for enhancing
India’s manufacturing capabilities and exports, he said.
PLI Schemes for medical devices; mobile phones; electronic
components; pharmaceutical drugs; telecom and network equipment; and electronic
technology products have been notified, he added.
Empowered Group of Secretaries (EGoS) and Project
Development Cells (PDCs) have been set up in the Ministries/Departments to facilitate
and promote investment, the minister said.
A Single Window System involving clearances by Ministries
/Departments and selected State Governments is on the anvil to provide
end-to-end facilitation support.
In the Union Budget 2021-22 with a view to promote domestic
manufacturing, announcements have been made on setting up seven Mega Investment
Textiles Parks(MITRA) over the next 3 years with plug-and-play facilities,
rationalization of customs duty structure across sectors and for a Scrappage Policy to phase out old
and unfit commercial vehicles.
The National Infrastructure Pipeline is expected to
significantly boost infrastructure and spur growth impulses in the
economy. Reduction in the compliance
burden is an ongoing process to spur investment and enhance ease of doing
business in India.
To boost domestic manufacturing, Department for Promotion of
Industry and Internal Trade has taken a number of measures including setting up of world class
infrastructure by developing nodes across various Industrial Corridors;
formulation of National Master Plan on multimodal connectivity infrastructure; implementation of Industrial development schemes for North-East
States, Himachal Pradesh, Uttrakhand, and Union Territory of Jammu &Kashmir
to boost industrialization in the industrially backward and hilly States; for start ups, setting up a
Fund of Funds and Seed Fund to build up a strong ecosystem for nurturing
innovation and entrepreneurship; Development of industrial information system
for improving availability of industrial land and amendment in Public
Procurement Rules to enhance minimum local content.
This information was
given by the Parkash, in a written reply in the Lok Sabha.