NEW DELHI: The recommended National Manufacturing Policy, which will try to develop mega industrial zones with world-class infrastructure without unfavourable labour and environment rules, is expected to come up before the Union Cabinet today.
Reports suggest that the equity restructuring plan of the DMIC (Delhi Mumbai Industrial Corridor) Development Corporation (DMICDC), which is a special purpose vehicle for industrial development along the Delhi-Mumbai rail corridor, is also likely to be placed before the Union Cabinet today.
Moreover, the manufacturing policy will hope to create 100-million jobs and also taking the share of manufacturing to 25% of the India's Gross Domestic Product (GDP) by 2020 from the present 15-16%. The sector contributes nearly over 80% to India's industrial production.
The draft policy has been given in-principle nod by a high-level committee, which has been chaired by Prime Minister Dr Manmohan Singh in June. It has witnessed some opposition from the respective ministries of labour and also environment.
The draft document had proposed that apart from fiscal incentives, the units in the recommended National Manufacturing Investment Zones (NMIZs) needs to be exempted from the labour and environment laws.
These zones are expected to come up in the private sector and it would have facilities such as industrial towns and other infrastructure.