Make in India Current Affairs

Government to release new industrial policy

The Department of Industrial Policy and Promotion (DIPP) under the Commerce and Industry Ministry is going to release a new industrial policy by October 2017. It is expected to replace National Manufacturing Policy (NMP) released in 2011

The new policy aims at making India a manufacturing hub by promoting ‘Make in India’ with focus on encouraging Indian branded products with higher value addition. It will also review the existing foreign direct investment (FDI) policy regime to facilitate greater technology transfer.

Features of New policy

The proposed policy will aim to set clear vision for role of industry and industrial growth in growth and development of economy. It will be comprehensive, actionable, outcome-oriented policy that will enable industry to deliver a larger role in economy and fulfil its role as engine of growth and add more value and jobs.

DIPP has adopted consultative approach for formulating industrial policy by setting up six thematic focus groups. These six thematic areas are Manufacturing and MSME, Technology and Innovation, Infrastructure, Investment, Trade and Fiscal Policy, Ease of Doing Business and Skills and Employability for Future.

The policy will aim to attract $100 billion of FDI in a year, up from $60 billion in 2016-17. It will also aim at retaining investments and accessing technology. It will also ensure that it facilitates greater technology transfer, leverages strategic linkages and innovation.

It will incorporate measures to facilitate use of smart technologies such as the internet of things (IoT), artificial intelligence (AI) and robotics for advanced manufacturing. A task force constituted on artificial intelligence under the chairmanship of V. Kamakoti will also provide inputs for the policy

The policy will aim to harness existing strengths in sectors like automobiles and auto-components, electronics, new and renewable energy, banking, software and tourism, and create globally scaled-up and commercially viable sectors such as waste management, medical devices, renewable energy, green technologies, financial services to achieve competitiveness.

The policy will also push for reforms to enhance labour market flexibility with an aim for higher job creation in the formal sector and performance linked tax incentives. It will also take into consideration changing economic and business cycles of world and Indian economy, geopolitical trends and broad policy directions in country.

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India’s first private missile production facility unveiled in Hyderabad

India’s first private sector missile sub-systems manufacturing facility Kalyani Rafael Advanced Systems (KRAS) plant was inaugurated near Hyderabad, capital of Telangana.

It is 51:49 joint venture between India’s Kalyani Group and Israel’s Rafael Advanced Defence Systems Ltd. It has been established line with the ‘Make in India’ initiative and Government’s policy to encourage private sector participation in defence production.

Key Facts

KRAS aims to be a one-stop solution provider to locally re-design, develop, re-engineer and manufacture various land and airborne products and systems in India. It has invested in designing, developing and manufacturing of weapon systems including Spike Anti-Tank Guided Missile (ATGM) systems and remote weapon systems.

Besides, it will develop a wide range of advanced capabilities that include command control and guidance, remote weapon systems, electro-optics, precision guided munitions and system engineering for system integration. It will be supplying defence equipment to the Indian Army and also export to South East Asian countries.

The plant would employ more than 300 engineers and provide indirect employment to 1,000 people. The localisation content of the plant is 90% and most of the vendors are in and around Hyderabad.

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