By Staff Reporter
The article should be cited as G’nY staff, 2019. National Manufacturing Policy, Geography and You, 19(21): 32-37
Despite the National Manufacturing Policy being in effect since 2011, the sector still suffers on account of insufficient jobs and low contribution to the country’s gross domestic product.
The 1991 New Economic Policy set the Indian economy into a journey of market oriented exponential growth in which the private sector assumed a vital role. However, in the two following decades, a dedicated policy for the needs of industries remained missing. Considering that the manufacturing sector constituted merely 14 to 16 per cent of India’s Gross Domestic Product (GDP) since liberalisation in 1991, a new policy was urgently needed (Department of Economic Affairs, 2012). The urgent need to boost...