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India wants to create 100 million skilled jobs in manufacturing by 2022 and raise that sector’s share of GDP from 16 per cent to 25 per cent.
The India Times reports that India’s Commerce and Industry Minister Anand Sharma expressed these views in the Swiss ski resort of Davos where the World Economic Forum (WEF) is currently taking place.
The comments come at a time when the growth of India’s manufacturing sector is in decline and, because of this decline, the developing nation’s exports have also slowed.
The ambitious employment target of 100 million is part India’s national manufacturing policy (NMP). As part of the policy, the government is aiming to attract more foreign direct investments.
To this end, Sharma is meeting US Trade Representative Michael Froman and WTO chief Roberto Azevedo on the sidelines of the WEF meet.
In addition, while in Davos he will hold talks with about 80 business leaders from India and abroad at an investment round-table, as he promotes the attractions of the world’s second most populous nation.