“We are presently working on the National Manufacturing Policy. We have Industrial policy but not manufacturing policy. I hope soon we should be in a position to put in place a policy for manufacturing which will attract global investment,” the minister said while speaking at an interactive session with leading British investors here.
Under the new policy, “we propose to set up four integrated green-field mega-investment zones which would not only attract global investment but also the latest technology”.
Noting that India is already a global leader in information technology field, Sharma said: “This decade is going to see another wave of technology, greenfield technology, more environmentally friendly and more competitive in terms of making India one of the Workshops of the world in Green Technology.”
The new national manufacturing policy is expected to come out by June-end this year. “Hopefully before June-end”, the Minister said. Describing India as “a land of limitless opportunity,” Sharma invited the investors to “come and build your fortune.”
Stating that the country has an “investment friendly robust policy in place”, the commerce & industry minister said “we remain one of the first three Foreign Direct Investment destinations in the world. We will remain one of the first three, if not first two FDI destinations,” he said. Answering questions, the minister said the four zones would be “integrated greenfield projects.” Once “we announce the policy we would have put in place a policy for acquiring land — a state subject - will be ready. We are not revealing where the Zones are coming up as it will lead to speculations on land price.”
While acquiring land, priority would be given for acquiring non-fertile land. “If agriculture land is acquired, the farmer will be a long-term stake holder in it,” he said. During his discussions with Britain’s Business Secretary Vince Cable, Sharma took up the issue of Visa problems faced by bonafide indian professionals, Businessmen and students and emphasised that there should be two-way movement of persons to further improve bilateral trade and investments.