The `Make in India’ campaign launched by Prime Minister Narendra Modi to promote manufacturing activity in the country will now focus on developing action plans for key sectors spanning over one to three years.
“Industry representatives will discuss with the Government the problems they face in their respective areas, be it related to obtaining industrial licences or dealing with inverted duty structure,” Department of Industrial Policy & Promotion (DIPP) offical said at a press briefing on Saturday.
The official said that day-long discussions between the Centre, State and industry representatives will take place on Monday following which the action plans for individual sectors will be discussed with the PM.
A short term annual action plan for early deliverables as well as a longer term plan of three years will be finalised for each sector, the DIPP official said.
The areas identified for promotion in the `Make in India’ campaign include automobiles & components, aviation, bio-tech, construction, defence production, electrical machinery, electronics, IT, media & entertainment, food processing, mining, oil & gas, ports, pharmaceutical, railways and thermal power.
The idea behind the campaign is to promote India as a manufacturing hub and attract foreign investments in order to increase the share of manufacturing from 16 per cent of the GDP to 25 per cent.
Despite efforts made by the UPA government to attract more FDI in several sectors, India’s FDI inflows in 2013-14 at $24.3 billion was just marginally higher than the previous year and much lower than the $31.5 billion inflow in 2011.