Panel to address industry slowdown
In light of recent signs of a slowdown in manufacturing production, India’s Prime Minister has put together a new panel of experts to address the problems currently facing the sector.
Led by Dr. V. Krishnamurthy, chairman, National Manufacturing Competitiveness Council (NMCC), the group will submit a report within three months in which it will suggest measures to boost exports of manufactured goods in the face of appreciation of the rupee and high interest rates, particularly with respect to labour intensive sectors such as leather, textiles, and handicrafts; ensure sustained growth of manufacturing industries for the next 10-15 years; recommend steps to reverse the recent deceleration in the growth of the manufacturing industries; and propose ways to leverage FDI in order to modernise manufacturing and create a strong technological base.
