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New manufacturing policy to come by September; Nirmala Sitharaman says ‘Jobs to be the focus’
May 12, 2017
- India’s manufacturing policy will soon be overhauled with the objective of creating more jobs in an environment where technology is rapidly replacing labor, commerce & industry minister Nirmala Sitharaman said on Tuesday.
- “If some high-end jobs are going to be displaced in the wake of Industry 4.0, the new policy must address how to redeploy such workers elsewhere,” Sitharaman observed.
- The new manufacturing policy will be rolled out in September to coincide with the third anniversary of Make in India and will aim to take the share of manufacturing to a fourth of GDP from the current level of 16-17%.
- “It’s appropriate that, like Germany, we have a novel and modern industrial policy,” the minister said, adding the idea would be to make India a manufacturing hub.
