'Make In India to spur manufacturing industry'

Visakhapatnam: Experts at the afternoon plenary session said that 'Make In India' would provide a momentum to development of manufacturing in India. At present, manufacturing in India contributes only 16% to the GDP. They further said the manufacturing industry would help generate employment by boosting economic activity and hike per capita income.
At the plenary session on the second day of the CII Partnership Summit 2016, experts discussed the factors that would help draft India's global manufacturing strategy and promote manufacture-led external trade. They also said lessons could be taken from China and the ASEAN.
The panel of experts consisted of Srini Srinivasan, managing director of Hospira (a Pfizer company), who chaired the meet, Ravneet Kaur, joint secretary, department of industrial policy and promotion, Frank G Wisner, international affairs advisor of Patton Boggs LLP, Kishore Jyaraman, president-India & South Asia, Rolls Royce, Phil Shaw, chief executive of Lock Heed Martin in India, Josh Foulger, managing director of Foxconn India Development Ltd and Irene Hors of OECD.
Ravneet Kaur said AP was the only state with two industrial corridors - Chennai-Bangalore and Chennai-Visakhapatnam. She pointed out that these two corridors would attract huge investments. She further observed that 25 thrust sectors have been identified.
Kishore Jayaraman of Rolls-Royce said the 'Make In India' slogan served as clarion call to spur growth of manufacturing industry in India. Josh Foulger of Foxconn said in China more than 20 million people were employed in the electronic sector and this sector should be promoted in a grand scale in India.
Phil Shaw of Lockheed said they have employed 1200 people in their manufacturing units in Hyderabad alone and observed that India's greatest strength was its demographic divide.