The union ministry of commerce industry is looking at formulating new policies to attract investments for setting up mega manufacturing hubs in India. It is believed that such a move would help ensure timely approval and clearance of investments needed for the booming manufacturing sector.
The ministry panel is also very confident about the economy registering 9% growth in the current fiscal year. However, looking upon the ongoing situation of the global economy and its impact on the country, the minister said, “We have not emerged fully out of this economic situation.”
The manufacturing sector would create a lot of job & investment opportunities in the coming few years as the Indian economy is expected to lead to a sustainable increase of 0.5-0.6% in India’s real GDP growth rate and create an additional 8.9 to 9.4 million jobs.
Source: Economic Times
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