With the window of opportunities open for investors, India aims to increase the contribution of manufacturing sector to 25 percent of GDP by 2025, the Commerce and Industry Minister, Nirmala Sitharaman has said.
The Minister was speaking at “India Investment" Seminar organized by Japan External Trade Organization on Friday held in Tokyo, Bureaucracy Today has learnt.
Currently, the manufacturing sector contributes 17 percent of the country’s GDP. The Government is already taking steps to improve ease of doing business and relaxing FDI norms.
In her visit to Japan, Sitharam met Hiroshige Seko, Japan Minister for Trade Economy & Industry; and the Governor of Aichi Prefecture, Hideaki Ohmura; along with leading Japanese companies in Automotive, Healthcare, Internet and Energy sector.
It was discussed that the Electric Vehicles, Renewable Energy, Medical Devices are the sectors of the future providing diversification opportunities to Japanese investors.
She also urged Japan to consider its investment in sectors like food processing, textiles, medical equipment, electronics and IT in India.
Secretary, DIPP, Ramesh Abhishek, during the event, gave examples of Business reform action plan (BRAC) on which states are being ranked on Ease of Doing Business (EODB) and upgradation of Intellectual Property Regime.