New Delhi: The Commerce and Industry Ministry will hold consultations by middle of next month on setting up of a technology acquisition and development fund for the proposed national investment and manufacturing zones (NMIZs).
In a bid to boost industrial production in the country, the government has recently announced a new National Manufacturing Policy (NMP), which provides for NMIZs.
NMIZs will be mega industrial zones with world class supporting infrastructure. The government is offering a host of incentives including liberalised labour and environment norms to promote these zones.
The ministry is planning to create the Technology Acquisition and Development Fund (TADF) for these zones, under which it has proposed to provide incentives for production of equipment and machines for controlling pollution, reducing energy consumption and water conservation.
It would also provide 10 percent subsidy on the capital investment.
"The draft scheme (on TADF) has been prepared and we will take it for consultations during stakeholder workshop on September 19," Secretary in the Department of Industrial Production and Promotion (DIPP) Saurabh Chandra said here at a CII function.
The government has been taking several steps to increase the share of the manufacturing sector in the GDP to at least 25 percent by 2020 from the present 16 percent.
The NMP proposes to create 100 million jobs by 2020.
The manufacturing sector grew by just 0.2 percent during the April-June quarter this fisal, against 7.3 percent in the corresponding period of 2011-12.
On the application of Swedish furniture major IKEA for setting up of 100 percent single brand retail stores in India, the secretary said: "We are waiting for their response".
The firm has proposed to invest Rs 10,500 crore in setting up of stores. But it has asked for several relaxations in the FDI policy on which the ministry has sent a questionnaire to the company.
On the issue of consultation with the MSME Ministry on the condition of 30 percent mandatory sourcing by the global retaliers from Indian small and cottage industries, he said: "In the government, all decisions are taken after consultations with all the stakeholders".
PTI
