Make in India Aims to Improve GDP Growth

Make in India Aims to Improve GDP Growth

Vishakhapatnam: Shri P Madhusudan, CMD, RINL in his key-note address said that the Government’s ‘Make in India’ campaign is a shot in the arm to venture beyond the traditional, and shift the focus gradually from services to production. 'Make in India' aims at boosting manufacturing in India and increase the contribution of manufacturing to GDP from the present 15% to 30%. Manufacturing is a very important sector for any country and encouraging it will reduce costs and provide more employment. He said that the Capital Goods industry is the 'mother' of all manufacturing industry and is of strategic importance to national security and economic independence.
 
Shri Madhusudan mentioned that  Steel Industry has been growing significantly during the last few years to emerge as the third largest producer in the world. In order to provide further impetus to the sector, the National Steel Policy (NSP) 2017 has been launched providing the requisite policy framework to unearth the untapped potential of the industry. The NSP 2017 aspires to achieve a Crude Steel capacity of 300 Mt and per capita consumption of steel of 160 kg from the current level of about 62 kg by 2030-31. This would translate into the progressive additional investment of Rs. 10 lakh Crs by 2030-31. The employment generation would increase significantly to about 36 lakhs by 2031 from the current level of 25 lakhs, he added.
 
The three-day Expo would provide a wonderful opportunity for technocrats and industrialists of the Metal, Steel, Foundry and Metallurgy industries to showcase their products and new developments. Large number of industry experts and delegates participated in the expo.

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