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Manufacturing sector should grow by 25 pc: Official
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SME Times News Bureau | 03 Mar, 2014
India needs at least 25 percent contribution from the manufacturing
sector for sustained growth and it must focus on innovation and research
and development to achieve this, an official said Saturday.
K.
Jayakumar, joint secretary at the Department of Scientific and
Industrial Research, said India should work on simplified laws and
develop a support system for industries.
He was delivering a
lecture on "Systems and Process Design to facilitate Industries Leverage
Technology, Opportunities and Partnership" at the Mangalayatan
University.
Half the population at present was under 25 years of
age, he said. This presented tremendous potential and scope for
development.
"We just need a focus on developing our
manufacturing sector. There is a need for structural change, nurturing
an industry friendly eco system and making Indian manufacturing sector
more competitive," he said.
He discussed various methods to tap
the potential in various sectors such as transportation, energy,
strategic sector and livelihood.
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