Govt identifies pharma as a champion sector
The government has identified ‘champion sectors’, which include pharma, gems and jewellery, renewable energy and textiles, to provide hand-holding for investors with a focus on improving India’s manufacturing capabilities, informed an official from Department for Promotion of Industry and Internal Trade (DPIIT).
Guruprasad Mohapatra, Secretary, DPIIT asserted that India must regain its rightful place in manufacturing and stated that the whole world, not only India has ceded the manufacturing space to a particular geography, in an apparent reference to China.
We need to focus a lot of domestic manufacturing, not only how to strengthen it, but how to encourage our domestic investors, said Mohapatra.
A lot of policies
Mohapatra informed that a lot of policy announcements, a lot of hand-holding, a lot of championing of various investments in the coming months can be expected in the identified champion sectors.
He also emphasised upon having “a lot of policy predictability in India so that policies are not changed from budget to budget or from event to event”.
The DPIIT Secretary shared that the way a corporate or an investor engages with various state government departments or central government departments will be simplified and expedited.