India will formulate its new policy for increasing share of manufacturing in its gross domestic product with a view to create additional jobs in the country.
Prime Minister Manmohan Singh has convened a meeting on June 2 of senior ministers to give a direction for firming up the policy. Its draft prepared by the industry ministry has suggested flexibility in labour laws and changes in environment norms in big industrial enclaves.
“The June 2 meeting is confirmed,” Commerce and Industry Minister Anand Sharma told PTI. Sharma is leading a CII delegation for the ‘India Show’ in the run-up to India-Africa Forum Meeting to be attended by Singh.
It has been more than a year that the industry ministry is trying to evolve a consensus on its draft manufacturing policy.