An interministerial group has been established by the government to establish the general parameters of the planned national manufacturing mission, which was revealed in the budget.
A number of stakeholder discussions are being held by the committee, which was formed and is chaired by BVR Subrahmanyam, CEO of Niti Aayog. The establishment of the mission to advance the Make in India campaign was announced by the government on February 1. Five key areas will be included in the mission’s mandate: quality products, a thriving and dynamic MSME sector, future-ready workforce for in-demand occupations, ease and cost of doing business, and technology availability. Small, medium, and big industries will also be covered.
The government has set up an inter-ministerial committee to frame the broad contours of the proposed national manufacturing mission, announced in the Budget. About 16–17% of the nation’s GDP comes from manufacturing, and the government wants to raise that percentage.
The mission will give states and central ministries governance, policy support, and a framework for monitoring.
The planned mission is anticipated to improve competitiveness, boost efficiency, encourage innovation, integrate domestic manufacturing into global value chains, and establish India as a globally competitive manufacturing hub, according to an industry expert.