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Key initiatives for industrial development post GST and demonetisation

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Dion Global

20 Dec 2018

Government is continuously taking steps to facilitate industrial development in the country though no specific year-wise targets for industrial development are assigned. Key initiatives include Make in India under which thrust sectors have been identified to provide a push to manufacturing and Start-up India to strengthen the start-up ecosystem. The Ease of Doing Business initiative aims to create a conducive environment by streamlining existing regulations and processes and eliminating unnecessary requirements and procedures.

Foreign Direct Investment policy and procedures have been simplified and liberalised progressively. Measures for the micro small and medium enterprises include Prime Minister’s Employment Generation Programme, Cluster Development Programme, Entrepreneurship Skill Development Programme and Credit Guarantee scheme.

The government has also implemented special packages for leather and footwear, textile and food processing sector etc. Further, the Government has notified schemes for the North Eastern Region & Himalayan States to boost industrial development in these regions. State/UT- wise details of targets for industrial development and achievements are not centrally maintained.