India to promote 24 key sectors in manufacturingBack
30 Sep 2020, 09:56 — 3 min read
In line with the Central Government’s Self-Reliant Bharat scheme (Atmanirbhar Bharat), the Department for Promotion of Industry and Internal Trade (DPIIT) has listed 24 key sectors to device plans to boost the manufacturing sector in India. DPIIT shared the list of 24 key sectors with relevant Ministries to work on plans to boost the manufacturing sector to make India self-reliant and to reduce the imports dependency from countries like China.
The key sectors include:
- Food processing
- Agro chemicals
- Organic farming
- Industrial Machinery
- Leather and Shoes
- Auto parts
- Pharmaceuticals / APIs etc.
DPIIT has asked the Ministries to work on an action plan with a view to boost domestic manufacturing and make India a self-reliant country.
At present, the manufacturing sector contributes about 15% to the country’s economy. The Government has decided to make India a self-reliant country in these segments, boost exports and become a global supplier. The Department for Promotion of Industry and Internal Trade (DPIIT) is working actively on promoting domestic manufacturing of toys and furniture.
Therefore the MSMEs which are in the said manufacturing sectors shall review and upgrade their manufacturing facilities and plans in line with the Central Governments / DPIITs plans to get the benefits of the schemes and to grow along with the Indian manufacturing sector. In fact there are some schemes through which MSMEs can upgrade their technology for which the central government provides financial incentives / loans.
To get the benefits of the upcoming plans of the Central Government for the manufacturing sector, one has to be registered under the MSME Act i.e. Udyam Registration / Udyog Registration.
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Posted byAnil Kumar Ganga
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