GOVERNMENT AIMING AT 13 percent MANUFACTURING GROWTH NEXT YEAR KAMAL
NATH MEETS JAPANESE MACHINERY FEDERATION TEAM
Date : 15 Feb 2007
Location : New Delhi
The government is
aiming at 13 % manufacturing growth next year, while the current year’s
manufacturing growth is more than 11 %.
At present, the share of manufacturing in India’s GDP is 17 % and “ we are
hoping to increase it to 25 %”, Shri Kamal Nath, Minister of Commerce and
Industry, said at a meeting with a delegation of the Japanese Machinery
Federation which is on a business mission to India, led by Dr. Tsutomu Kanai,
Chairman of the Federation.
The Minister said
that the highest priority was being accorded to manufacturing sector, as job
creation was of utmost importance in view of the country’s young age profile.
The delegation conveyed the keenness of Japanese machinery industry to cooperate
with their Indian counterparts. India was steadily emerging as a manufacturing
hub of Asia, with a number of Japanese machinery companies locating in India.
However, infrastructure bottlenecks often hindered such collaboration, they
assured the delegation that infrastructural development was being addressed on a
priority basis so that the high manufacturing growth rate could be sustained and
further accelerated. Later, the Minister also met a delegation of the
Japan-India Business Cooperation Committee, headed by Mr. Nobuo Ohashi, Chairman
of the Committee.