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New industrial policy to address challenges faced by mfg sector: Official

Press Trust of India  |  New Delhi 

The New Industrial Policy, to be announced soon, will address challenges faced by the sector encompassing adoption of standards and quality control to boost India's industrial base, a said Thursday.

The sector has lagged and the time is opportune to give primacy to this sector, Anand Singh Bhal, in the Department of and Promotion (DIPP), said while addressing the India-Korea Technology and Education Exchange Forum.

"is not a very strong nation, and (the segment) only contributes 16 per cent to our GDP which is not very good," he said.

Under the Make in initiative, the government aims to increase the share of the to the (GDP) to 25 per cent by 2022.

He also said that had a lot to learn from in terms of innovation in the and creating a robust industrial base. The learnings and their implementation will also create large avenues for employment, the burden of which is currently borne by the services sector.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 21:15 IST