After pitching the new manufacturing policy (NMP) as a one-shot fix to revive the manufacturing sector and create jobs by the millions, the government is now worried that its benefits may take too long to come. It is now thinking of a short-term manufacturing plan to create jobs quickly to prevent social unrest.
The concern was raised in the first meeting of the reconstituted National Manufacturing Competitiveness Council (NMCC) on Friday that dwelt on the need to have a five-year manufacturing revival plan. The proposed special manufacturing zones and the Delhi-Mumbai Industrial corridor are likely to fructify over the next 10 years, creating risks of social instability and political volatility in the short term.
“There is a need to have a proper short-term plan in place,” Planning Commission Member Arun Maira told ET after the NMCC meeting. “The NMP is only a small part, we need to bring in changes in the rest of the manufacturing sector as well,” he said. The NMP, approved by the Cabinet in late 2011, aims at raising the share of manufacturing in India to 25% of the GDP, from 16%, by 2022…
via Job scare may lead to new plan on manufacturing – The Economic Times.
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Posted by US Army Special Forces | March 3, 2012, 1:47 am