India manufacturing to make up 20-25% of economy in a few years

01 February 2012 10:07  [Source: ICIS news]

NEW DELHI (ICIS)--India’s manufacturing sector is expected to account for a much bigger share of the domestic economy in a few years’ time, as industrial hubs are being set up in different parts of the country, a government official said on Wednesday.

In the current fiscal year ending March 2012, the sector will contribute 16-17% to India’s total economic output, said Neelkamal Darbari, the joint secretary for the Department of Chemicals and Petrochemicals under India's Ministry of Chemicals and Fertilizers, at the PlastIndia exhibition 2012 in New Delhi.

“The Indian government has and is working on some policies which will attract investors [to India],” she said.

The Indian government has been providing investment incentives for industries setting up operations at the coastal cities, including Dahej in Gujarat state, Darbari said.

In Tamil Nadu, a coastal state in southern India, a proposed industrial hub will soon receive government approval, she said.

PlastIndia 2012 runs from 1-6 February.

Additional reporting by Prema Viswanathan

By: Ong Sheau Ling
+65 6780 4359

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