August 20, 2016 7:09:11 pm
The Centre is focusing on Tamil Nadu to support and replicate its models in other states, state Science and Technology Minister Y S Chowdary said, on Saturday.
“Tamil Nadu is very successful manufacturing state. The central government is focusing on the state to support and replicate the models in other states,” as part of giving an impetus to manufacturing, he told reporters.
He said this on the sidelines of releasing ‘the Technology Roadmap on Manufacturing (Technology Vision 2035)’ Coimbatore.
The main idea of the programme is to give a road map to the country to support the ‘Make In India’ initiative so that youth could largely benefit, he said.
“Our target is to take manufacturing growth up to 25 per cent of GDP in 2035 from the present 16 per cent,” he said.
When it was pointed out that manufacturing sector growth was hovering around 15 to 16 per cent for last five to six years, he said it was because of the bad global market.
“It is not only our country. Globally there is a serious problem about consumption. In spite of that our country is surviving, making 7 per cent GDP. It’s not bad compared to many other developed countries which are stuck with two to three per cent,” he said
“We are trying every possible way to harness industrialisation and remove bottlenecks, which are in every sector,” Chowdary said.
On recently passed GST, he said though manufacturing states may lose revenue in the first few years, “we have to provide a level playing field for other consuming states also.”
On MSME’s facing financial constraints as many banks are reportedly not lending loans to them, the minister said the “banks are in a tricky situation now and the Finance Minister is trying to set right.”
“However, MSMEs can approach MUDRA Bank, which will be helpful,” he said.
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