What are the policies of the government to set up a manufacturing unit?
Answers
Explanation:
Opportunities for employment in the manufacturing sector have been on the rise, however most companies fear government policy changes and regulations. Policy changes such as healthcare, and the fair and free trade act are just some of the government policies that affect our country’s manufacturing industry.
Even with the current drop in demand for US manufactured products and the cut in government spending there are still job growth opportunities in the manufacturing industry. However, many business owners fear that with the current state of the industry there are additional problems that need to be solved.
Answer:
National Manufacturing Policy (NMP) with the objective of enhancing the share of manufacturing in GDP to 25% and creating 100 million jobs over a decade or so. The policy is based on the principle of industrial growth in partnership with the States. The Central Government will create the enabling policy frame work, provide incentives for infrastructure development on a Public Private Partnership (PPP) basis through appropriate financing instruments, and State Governments will be encouraged to adopt the instrumentalities provided in the policy. The Department has taken up the implementation of the policy in consultation with concerned Central Government agencies as well as the States.