Favourable Milestones:
· India has already marked its presence as one of the fastest growing economies of the world.
· The country is expected to rank amongst the world’s top three growth economies and amongst the
top three manufacturing destinations by 2020.
· Favourable demographic dividends for the next 2-3 decades. Sustained availability of quality
workforce.
· The cost of manpower is relatively low as compared to other countries.
· Responsible business houses operating with credibility and professionalism.
· Strong consumerism in the domestic market.
· Strong technical and engineering capabilities backed by top-notch scientific and technical institutes.
· Well-regulated and stable financial markets open to foreign investors.
The government has also pledged other focused approaches. Among other things, it intends to leverage the existing incentives/schemes to boost manufacturing. A technology acquisition and development fund has been proposed for the acquisition of appropriate technologies, the creation of a patent pool and the development of domestic manufacturing of equipment used for controlling pollution and reducing energy consumption, official sources said in New Delhi. This fund will also function as an autonomous patent pool and licensing agency. It will purchase intellectual
property rights from patent holders. The government has also to deal with an existing menace in bureaucratic functioning. The bureaucratic bottle necks that hinder ease of doing business need to be removed.
Training of Workforce:
The manufacturing sector cannot develop on its own without skilled labour force and in this context it is heartening to note the government’s initiatives for skill development. The creation of appropriate skill would definitely set rural migrants and the urban poor on a track towards inclusive growth. That would be a vital step for boosting manufacturing.
The New Ministry for Skill Development and Entrepreneurship has initiated the process of revising the National Policy on Skill Development. It is significant to note that under the Rural Development ministry, the Modi government has undertaken another new initiative for skill development under a recast programme named after BJP icon Pt. Deendayal Upadhyaya.
The new training programme envisages setting up of at least 1500 to 2000 training centres across the country and the entire project would result in an estimated expenditure of Rs 2000 crore and will be run on PPP model.
The new training programme would enable the youths to get jobs in demand-oriented markets like Spain, US, Japan, Russia, France, China, UK and West Asia. The government proposes to train about 3 lakh youths annually in first two years and by the end of 2017, it has set a target of reaching out to as many as 10 lakh rural youths.
Other steps:
As part of other steps, there is need to address other issues too like adequate development of basic
infrastructures – the roads and the power chiefly. For long, MNCs and software service companies have relished doing business in India due to a robust market with enhanced purchasing ability of the citizens but in terms of building up ‘manufacturing facilities’, India has been a case of also-ran. In this context it is worth pointing out that a strong political will, business-like approach of bureaucrats and the entrepreneurs, skilled of workforce along with investment friendly policies can unleash the nation’s potential. It is in this context the government’s efforts to develop an “industrial corridor” between Delhi and Mumbai needs to be appreciated.
The government is also working on multi-pronged strategies like development of infrastructure linkages including pioneer plants, assured water supply, high capacity transportation and logistics facilities. Carrying on the good works on these fronts, the government also has begun the process of reviving five ailing Public Sector units (PSUs). Of the 11 PSUs, the government also feels that for six other units that needs to be closed, it is working on one-time settlement involving voluntary retirement scheme entailing a cost of Rs 1,000 crore VRS for employees.
The state-run units which have been identified by the government for revival include HMT Machine Tools Ltd; Heavy Engineering Corporation; NEPA Ltd; Nagaland Paper & Pulp Co Ltd; and Triveni Structurals.
*Shri Nirendra Dev is a Special Representative with The Statesman
Featured in pib.nic.in
· India has already marked its presence as one of the fastest growing economies of the world.
· The country is expected to rank amongst the world’s top three growth economies and amongst the
top three manufacturing destinations by 2020.
· Favourable demographic dividends for the next 2-3 decades. Sustained availability of quality
workforce.
· The cost of manpower is relatively low as compared to other countries.
· Responsible business houses operating with credibility and professionalism.
· Strong consumerism in the domestic market.
· Strong technical and engineering capabilities backed by top-notch scientific and technical institutes.
· Well-regulated and stable financial markets open to foreign investors.
The government has also pledged other focused approaches. Among other things, it intends to leverage the existing incentives/schemes to boost manufacturing. A technology acquisition and development fund has been proposed for the acquisition of appropriate technologies, the creation of a patent pool and the development of domestic manufacturing of equipment used for controlling pollution and reducing energy consumption, official sources said in New Delhi. This fund will also function as an autonomous patent pool and licensing agency. It will purchase intellectual
property rights from patent holders. The government has also to deal with an existing menace in bureaucratic functioning. The bureaucratic bottle necks that hinder ease of doing business need to be removed.
Training of Workforce:
The manufacturing sector cannot develop on its own without skilled labour force and in this context it is heartening to note the government’s initiatives for skill development. The creation of appropriate skill would definitely set rural migrants and the urban poor on a track towards inclusive growth. That would be a vital step for boosting manufacturing.
The New Ministry for Skill Development and Entrepreneurship has initiated the process of revising the National Policy on Skill Development. It is significant to note that under the Rural Development ministry, the Modi government has undertaken another new initiative for skill development under a recast programme named after BJP icon Pt. Deendayal Upadhyaya.
The new training programme envisages setting up of at least 1500 to 2000 training centres across the country and the entire project would result in an estimated expenditure of Rs 2000 crore and will be run on PPP model.
The new training programme would enable the youths to get jobs in demand-oriented markets like Spain, US, Japan, Russia, France, China, UK and West Asia. The government proposes to train about 3 lakh youths annually in first two years and by the end of 2017, it has set a target of reaching out to as many as 10 lakh rural youths.
Other steps:
As part of other steps, there is need to address other issues too like adequate development of basic
infrastructures – the roads and the power chiefly. For long, MNCs and software service companies have relished doing business in India due to a robust market with enhanced purchasing ability of the citizens but in terms of building up ‘manufacturing facilities’, India has been a case of also-ran. In this context it is worth pointing out that a strong political will, business-like approach of bureaucrats and the entrepreneurs, skilled of workforce along with investment friendly policies can unleash the nation’s potential. It is in this context the government’s efforts to develop an “industrial corridor” between Delhi and Mumbai needs to be appreciated.
The government is also working on multi-pronged strategies like development of infrastructure linkages including pioneer plants, assured water supply, high capacity transportation and logistics facilities. Carrying on the good works on these fronts, the government also has begun the process of reviving five ailing Public Sector units (PSUs). Of the 11 PSUs, the government also feels that for six other units that needs to be closed, it is working on one-time settlement involving voluntary retirement scheme entailing a cost of Rs 1,000 crore VRS for employees.
The state-run units which have been identified by the government for revival include HMT Machine Tools Ltd; Heavy Engineering Corporation; NEPA Ltd; Nagaland Paper & Pulp Co Ltd; and Triveni Structurals.
*Shri Nirendra Dev is a Special Representative with The Statesman
Featured in pib.nic.in
No comments:
Post a Comment