homeeconomy NewsAtmanirbhar Bharat: DPIIT prepares blueprint for aluminium, leather and furniture sector
Atmanirbhar Bharat: DPIIT prepares blueprint for aluminium, leather and furniture sector
CNBC-TV18 learns that short and long term measures have been identified for the aluminium, leather, and furniture sector by DPIIT as part of the overall push to manufacturing which is part of the Modi government's aim to become Atmanirbhar Bharat.
The Department of Promotion of Industry and Internal Trade (DPIIT) has proposed short- and-long-term measures to turn India into a manufacturing hub for 20 champion sectors. CNBC-TV18 learns that short and long term measures have been identified for the aluminium, leather, and furniture sector by DPIIT as part of the overall push to manufacturing which is part of the Modi government's aim to become Atmanirbhar Bharat.
The DPIIT has suggested having a separate policy on power for the energy-intensive aluminium sector, reduction of coal cess from Rs 500 per tonne to Rs 50 per atone, and reduction in rail freight. In the long term, the suggestion is to have an import monitoring mechanism, quality control order, and utilise aluminium for rail coaches.
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The second sector identified by the government is leather, where the export potential is expected around $10 billion in the next 10 years which will also help create over 11 lakh jobs. Some of the short term plan suggested is to increase customs duty on footwear from 35% to 60% and 40% duty on import of footwear components. The long term idea is to create business clusters for the leather industry.
Another area identified for manufacturing boost is the furniture segment, for which no import duty on raw materials like wood logs, saw wood, etc has been suggested. In the long term, the suggestion is to make the furniture sector organised with its ancillary units. The plan is also to make India a global furniture hub by bringing in plug and play infrastructure around the ports.
The DPIIT has identified 20 champion sectors like air conditioners, leather, and footwear, auto components, furniture, Marine, Steel, Aluminum, Agro clusters, ready to eat, agrochemicals, textiles, electronic components, medical equipment, television, closed-circuit camera, toys, ethanol, electric vehicle component, sport, and gym equipment.
First Published: Aug 13, 2020 1:48 PM IST
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