Latest News | Pandey Urges Industry to Increase Share of Manufacturing in GDP

New Delhi, Aug 25 (PTI) Heavy Industries Minister Mahendra Nath Pandey on Wednesday urged the domestic industry to work in the direction of increasing the manufacturing sector's share in the country's GDP.

He said steps like the production-linked incentive (PLI) schemes would help in boosting domestic manufacturing.

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Share of manufacturing in GDP should be increased to 20-25 per cent, he said at an Assocham webinar.

Manufacturing sector's share in India's GDP is estimated at around 17 per cent currently.

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The minister added that the government is taking steps towards promoting ease of doing business and enhancing the quality and standards of products.

"Use of new technologies like robotics and 3D printing will help in improving quality in the manufacturing sector," Pandey said.

He added that a PLI scheme for the auto sector is under consideration.

The government has announced PLI schemes worth USD 26 billion for 13 sectors for enhancing India's manufacturing capabilities and exports.

The sectors include advanced chemistry cell (ACC) battery, electronics/technology products, pharmaceuticals, telecom and networking products, food items, speciality steel and white goods.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)