National Manufacturing Mission Rollout Expected Soon, States Asked To Gear Up

(MENAFN- KNN India) New Delhi, Jan 5 (KNN) After implementing the Export Promotion Mission, the government is expected to soon announce the rollout of the National Manufacturing Mission, the Prime Minister informed in the chief secretaries meeting.

The National Manufacturing Mission was announced in the Union Budget for FY 2025–26 with the objective of strengthening Atmanirbhar Bharat and increasing manufacturing's share in GDP to 25 percent.

States Asked to Prepare for Global Investment Push

In anticipation of the mission's implementation, states have been asked to begin preparations in line with its framework so that they can attract global investment under the National Manufacturing Mission.

The mission aims to address major structural bottlenecks hindering manufacturing growth, particularly the lack of land availability, shortage of skilled workers, and inadequate logistics infrastructure.

Efforts will be made to promote manufacturing investments across all regions of the country to ensure balanced industrial development. India will be divided into five zones, within which manufacturing clusters will be developed to provide new entrepreneurs with all necessary facilities.

Multiple constraints, especially land scarcity and regulatory hurdles, have limited the entry of new entrepreneurs into the manufacturing sector.

Need to Boost Manufacturing Share in GDP

The manufacturing sector also faces a significant shortage of startups. Over the past decade, manufacturing's contribution to GDP has remained stagnant at 15-17 percent.

To achieve the goal of becoming a developed nation by 2047, India will need to sustain GDP growth of 8-9 percent and raise manufacturing's share in GDP to 30-35 percent.

Focus on Employment-Intensive and High-Tech Sectors

The core objective of the National Manufacturing Mission is to transform the Indian economy from being agriculture-driven to manufacturing-led. Under the mission, special schemes will be designed to promote employment-intensive sectors alongside high-tech manufacturing.

The mission may place special emphasis on domestic machinery manufacturing, as India remains heavily dependent on imports for machinery. Government support may also be extended for setting up manufacturing operations overseas.

With several countries shutting down manufacturing units due to a shortage of skilled labour, India has a significant opportunity to establish facilities abroad or expand exports to those markets.

(KNN Bureau)

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