Govt to set up National Manufacturing Mission; focus on ease of biz, future-ready workforce

The scheme will cover small, medium and large industries, Finance Minister Nirmala Sitharaman said in her Budget speech.

The National Manufacturing Mission, she said, will provide policy support, governance and monitoring framework for central ministries and states.

“Our government will set up a National Manufacturing Mission covering small, medium and large industries for furthering Make in India,” she said.

She said that support will be provided to develop domestic manufacturing capacities for our economy’s integration with global supply chains.

Sectors will be identified based on objective criteria.

“Facilitation groups with participation of senior officers and industry representatives will be formed for select products and supply chain,” the minister said.

Sitharaman said there are huge opportunities related to Industry 4.0, which needs high skills and talent. “Our youth have both,” she noted.

“Our government will support the domestic electronic equipment industry to leverage this opportunity for the benefit of the youth,” Sitharaman said.

According to the Department for Promotion of Industry and Internal Trade (DPIIT), the proposed mission is expected to enhance competitiveness, increase efficiency, foster innovation, integrate domestic manufacturing into global value chains and make India a globally competitive manufacturing hub.

Commenting on the announcement, Commerce and Industry Minister Piyush Goyal said it would focus on sectors which need to be supported.

“The mission will closely identify sectors where there is a cost disadvantage and help them,” he added.

The country’s manufacturing accounts for about 16-17 per cent of the GDP and the government is looking to increase the share.

India’s industrial production (IIP) growth accelerated to a six-month high of 5.2 per cent year-on-year in November 2024, riding on the increased festive demand and pick-up in the manufacturing sector, according to the official data.