FICCI CHIEF PODDAR OUTLINES ACTION AGENDA TO ACHIEVE
12% MANUFACTURING GROWTH
NEW DELHI, July 5, 2006. FICCI has outlined a multi-pronged
Action Agenda to create 5 million new jobs per year in the
manufacturing sector and accelerate manufacturing growth to 12%,
thereby increasing the share of manufacturing in GDP from the present
17% to 30% by 2020.
In his presentation to the Finance Minister today on “Achieving 12%
Manufacturing Growth”, the FICCI President, Mr. Saroj Kumar Poddar
has underlined the need for affirmative action by industry to create
more jobs for SCs and STs in the manufacturing sector. This, he said,
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could be expedited by promoting Special Manufacturing Clusters in
districts with high population (over 40%) of SCs/STs, providing fiscal
concessions to promoters of these Special Manufacturing clusters –
similar to those available to SEZ, and 150% weighted deduction to
corporates investing in Government- promoted ITIs in these special
clusters. FICCI, he pointed out, has identified 27 districts along with
potential industries for such special clusters.
The FICCI Action Agenda calls for reduction in revenue deficit to
release resources for accelerating public investment in infrastructure
and social sectors; a foreign trade policy that uses drawback rates to
neutralize the impact of taxes on goods and services and ensures that
fair competition for the Indian manufacturing sector; creation of world
class infrastructure and provision of cheap and assured power;
extending the National Rural Employment Guarantee Programme to
manufacturing, introduce flexibility in labour laws as in ASEAN
countries; a regulatory reform that benchmarks entry and exit time
and costs for investors in manufacturing with global levels; financial
and mining sector reforms; fillip to SMEs; investments in
modernization and expansion of vocational and technical training and a
thrust on R&D through long term tax breaks.
Click here to Download Detailed Presentation of FICCI President Shri
Saroj Kumar