Government sets up board to boost manufacturing.

New Delhi: The government Sunday announced a board to help operationalise the national manufacturing policy that aims to create 100 million additional jobs and boost the share of manufacturing in the country's GDP to 25 percent in the next 10 years from the current around 16 percent.

The new board called Manufacturing Industry Promotion Board (MIPB), will be headed by Commerce and Industry Minister Anand Sharma. The board will oversee the implementation of the National Manufacturing Policy.

The Department of Industrial Policy and Promotion issued a notification Sunday regarding the setting up of the board. The notification was signed on June 1, 2012, the commerce and industry ministry said in a statement.

The announcement of setting up new boards came in the backdrop of contraction in manufacturing activities.

As per the data released by the Central Statistics Office Thursday, India's economic growth slumped 9-year low of 5.3 percent in January-March quarter, dragged by contraction in manufacturing sector.

For the whole of 2011-12 financial year, the gross domestic product (GDP) growth slumped to 6.5 percent, which is even lower than 6.7 percent expansion registered during the global economic crisis period of 2008-09.

Along with the Manufacturing Industry Promotion Board, the government has also notified setting up Board of Approval, Green Manufacturing Committee and High Level Committee, to facilitate effective implementation of the national manufacturing policy.

'The board has been tasked to periodically review the overall situation of the manufacturing sector in the country. This will include review of state-wise and sector-wise performance of the manufacturing sector,' the statement saidl.

The Board will also review the implementation of the National Manufacturing Policy in general and the development of National Industrial Manufacturing Zones (NMIZs), wherever approved, in particular.

High level inter-ministerial nature of the board will enable it to resolve co-ordination issues among central ministries on the one hand and state governments and central ministries on the other.

The MIPB will have secretaries of Department of Economic Affairs; Revenue; Labour and Employment; Micro, Small and Medium Enterprises; Road Transport and Highways; Heavy Industry and Public Enterprises; Science and Technology; Environment and Forests and Member-Secretary, National Manufacturing Competitiveness Council.

There will also be two industry representatives and Secretary Industry will be the Member Secretary of the Board. The board may invite the Industry Ministers of the states concerned if required.

The Board of Approval will examine applications for establishment of NIMZs and recommend such proposals for consideration to the High Level Committee as are found to be meeting the requirements of the National Manufacturing Policy.

After consideration by the High Level Committee, the proposals will be put up for approval to Commerce and Industry Minister.

The Green Manufacturing Committee will prescribe objective criteria for categorising a technology as 'clean and green'.

'The criteria will be consistent with the objective of the national action plan on climate change and the strategy for inclusive sustainable development,' commerce and industry ministry said.

The national manufacturing policy aims to create world class industrial infrastructure, a conducive business environment, an ecosystem for technological innovation - especially in the domain of green manufacturing, institutions for industry relevant skill upgradation, and mechanisms for easy access to finance for entrepreneurs.

Source : news.in.msn.com