Updated By: LatestGKGS Desk
Government of India's National Policy for Advanced Manufacturing
Government of India formulating National Policy for Advanced Manufacturing, features, aims
The Government of India is formulating a new National Policy for Advanced Manufacturing to enhance India’s Global Manufacturing competitiveness.
The new National policy is one of the key goals to attain the objective of increasing contribution of manufacturing output to 25% of GDP from 16% by the year 2025.
Policy to increase exports to 40%, domestic consumption of goods to 80%
The national Policy for Advanced Manufacturing is formulated to enable such a policy by technological advances to compete in the market so that India does not lack behind.
The National Policy also aims to facilitate improvement in technology depth across sub-sectors to increase skill availability, ensure mandatory standards and promote growth and capacity building of companies.
The policy also aims to increase exports from 27% to 40% of the production and also increasing the domestic demand of the goods.
