Tech panel on textiles, leather soon

Prime Minister Manmohan Singh has accepted the in principle suggestion of the National Manufacturing Competitiveness Council (NMCC) to set up technology missions for textiles, leather and food processing, NMCC Chairman V Krishnamurthy said today.

He added that it was also decided that the NMCC should work through the trade and economic relations committee headed by the Prime Minister.

The NMCC has recommended that if the country's economy is to grow at 8-9 per cent annually, the manufacturing sector has to grow at 12-14 per cent a year over the next decade, against the less than 7 per cent growth in the last two decades.

The growth target of 12 per cent in manufacturing would create about 1.6 to 2.9 million direct jobs annually.