NEW DELHI: In a complete rethink of the ‘Make in India’ initiative, the government will come up with policy interventions in key sectors that can help create jobs and sustainable economic development in the country.
From 25 focus sectors presently, the government is selecting four or five to ‘nurture’ them, with emphasis likely on labour-intensive and high-potential sectors such as leather, textiles and garments, engineering, pharmaceuticals and automobiles.
High-level meetings have taken place in NITI Aayog, the industry department and the heavy industries ministries to restructure the policy for the auto industry – identified as a high-potential sector – to create more jobs. According to the Ministry of Labour and Employment, about 10 million youngsters join the race for jobs in India every year.
The government is deliberating on ways to push global automotive companies…