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Govt seeks 25% of mfg weightage in GDP

Manufacturing sector contributes 17% to India’s GDP; Heavy Industries Minister Pandey urges India Inc to make use of PLI; Scheme for the auto sector is also under consideration.

Govt seeks 25% of mfg weightage in GDP

Govt seeks 25% of mfg weightage in GDP

Heavy Industries Minister Mahendra Nath Pandey on Wednesday urged the domestic industry to work in the direction of increasing the manufacturing sector's share in the India's GDP. He said steps like the production-linked incentive (PLI) schemes would help in boosting domestic manufacturing. Share of manufacturing in GDP should be increased to 20-25 per cent, he said at an Assocham webinar. Manufacturing sector's share in India's GDP is estimated at around 17 per cent currently.

The minister added that the government is taking steps towards promoting ease of doing business and enhancing the quality and standards of products. "Use of new technologies like robotics and 3D printing will help in improving quality in the manufacturing sector," Pandey said. He added that a PLI scheme for the auto sector is under consideration. The government has announced PLI schemes worth $26 billion for 13 sectors for enhancing India's manufacturing capabilities and exports. The sectors include advanced chemistry cell (ACC) battery, electronics or technology products, pharmaceuticals, telecom and networking products, food items, speciality steel and white goods.

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