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India to promote 24 key sectors in manufacturing

India to promote 24 key sectors in manufacturing

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Anil Ganga

Anil Ganga

30 Sep 2020, 09:56 — 3 min read

In line with the Central Government’s Self-Reliant Bharat scheme (Atmanirbhar Bharat), the Department for Promotion of Industry and Internal Trade (DPIIT) has listed 24 key sectors to device plans to boost the manufacturing sector in India. DPIIT shared the list of 24 key sectors with relevant Ministries to work on plans to boost the manufacturing sector to make India self-reliant and to reduce the imports dependency from countries like China.

The key sectors include:

  1. Food processing
  2. Toys
  3. Furniture
  4. Agro chemicals
  5. Organic farming
  6. Iron
  7. Aluminum
  8. Copper
  9. Electronics
  10. Industrial Machinery
  11. Leather and Shoes
  12. Auto parts
  13. Textiles
  14. Pharmaceuticals / APIs etc.

 

DPIIT has asked the Ministries to work on an action plan with a view to boost domestic manufacturing and make India a self-reliant country.

 

At present, the manufacturing sector contributes about 15% to the country’s economy. The Government has decided to make India a self-reliant country in these segments, boost exports and become a global supplier. The Department for Promotion of Industry and Internal Trade (DPIIT) is working actively on promoting domestic manufacturing of toys and furniture.

 

Therefore the MSMEs which are in the said manufacturing sectors shall review and upgrade their manufacturing facilities and plans in line with the Central Governments / DPIITs plans to get the benefits of the schemes and to grow along with the Indian manufacturing sector. In fact there are some schemes through which MSMEs can upgrade their technology for which the central government provides financial incentives / loans.

 

To get the benefits of the upcoming plans of the Central Government for the manufacturing sector, one has to be registered under the MSME Act i.e. Udyam Registration / Udyog Registration.

 

Also read: Udyam Registration - All about the new MSME Registration Process

 

To explore business opportunities, link with me by clicking on the 'Connect' button on my eBiz Card.

 

Image source: shutterstock.com 

 

Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker

Posted by

Anil Kumar Ganga

"Ananya legal LLP" is a full service, dynamic, and trustworthy Corporate Advisory and Legal Consultancy Limited Liability Partnership (LLP) Firm that specializes in a...

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