Concentrating on the motive to provide a fillip to industrial growth and job creation, Commerce and Industry Minister Suresh Prabhu has said that he is working together with the finance ministry and other departments to firm up policy initiatives along with fiscal incentives. He added that the country's economy is doing well and it has a huge growth potential in coming years. Therefore, they are putting in place all the policy frameworks and studying sector by sector, and finding out wherever there is a scope for improvement.
Prabhu said ‘We are taking a lot of policy measures. I am personally working with the Ministry of Finance and the Niti Aayog and all other government institutions to provide necessary policy as well as fiscal support to ensure the industry can actually produce far more than what they are doing today which will create jobs.’ He also said that output numbers will all add to the Gross Domestic Product (GDP) numbers. He has said that the government is taking lots of steps to improve ease of doing business in the country, but a lot more needs to be done.
The Commerce and Industry Minister further said that his job is to ensure that entrepreneurship to blossom in India and added that the ministry is also working on an industrial policy. He added that the policy assumes significance as the future of manufacturing would not be same as it is today. Suggesting that excess capacity utilisation can be increased by enhancing domestic consumption and exports, he said that they are working on some of the emerging industries.
