Prabhu asks industry to set a timeline for $ 1-tln mfg revenue

TIL Desk/Business/New Delhi/ Commerce & Industry Minister Suresh Prabhu has asked the industry to set a timeline for achieving a USD 1 trillion in manufacturing revenue and take its share in GDP to 20 per cent.

The share of manufacturing in GDP has been trending at 16-17 per cent for some years now and the previous Manmohan Singh government had set a target of taking this share to 25 per cent of GDP by the turn of 2025.

“The government aims to increase the share of manufacturing in GDP to 20 per cent,” the minister told a CII-organised event on the topic here today without offering a timeline to achieve the same. But instead he asked the industry to set a timeline for themselves to achieve this as also to take the value of manufacturing GDP to USD1 trillion.

“Without a number it is not possible for the industry to prepare a roadmap for achieving this milestone,” he said. To help achieve this, the minister said government is working on getting into the top 50 slot in the World Bank’s ease of doing business rankings.