(FE)
India’s manufacturing policy will soon be overhauled with the objective of creating more jobs in an environment where technology is rapidly replacing labour, commerce & industry minister Nirmala Sitharaman said on Tuesday.“If some high-end jobs are going to be displaced in the wake of Industry 4.0, the new policy must address how to redeploy such workers elsewhere,” Sitharaman observed.
The new manufacturing policy will be rolled out in September to coincide with the third anniversary of Make in India and will aim to take the share of manufacturing to a fourth of GDP from the current level of 16-17%. “It’s appropriate that, like Germany, we have a novel and modern industrial policy,” the minister said, adding the idea would be to make India a manufacturing hub. Sitharaman believes this is the time to trim some existing policies, recast some and add some.
