New Delhi, Oct 25 (IANS): The union cabinet Tuesday gave its nod to the national manufacturing policy that aims to create 100 million additional jobs by 2025 and develop mega industrial zones with world-class infrastructure facilities and flexible labour and environment regulations.
The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh approved the policy that also aims to increase the share of manufacturing in the economy to 25 percent from the current around 16 percent.
According to the policy, the government would help establish National Manufacturing Investment Zones with world-class infrastructure and investment friendly regulations to boost manufacturing activities.
"China has done it, Germany has done it, Japan has done it and now India has decided to do it," Commerce and Industry Minister Anand Sharma told reporters after the cabinet meeting here.