Stressing the need for Indian industry tapping global supply chains, Prabhu said, “Manufacturing cannot happen end to end in one geography. It has to be part of a global value chain and global supply chain. That is why we are discussing a new industrial policy which is awaiting Cabinet approval, focusing on how to develop mutually beneficial value chain and supply chains.”
Union Minister of Commerce, Industry and Civil Aviation Suresh Prabhu on Saturday said the government is coming out with a new industrial policy which will link the country with the global supply-chain that will be mutually beneficial. The new industrial policy, aimed at developing global value chains and boosting India’s manufacturing competitiveness, is awaiting the Cabinet approval, he said while addressing the CII Partnership Summit.
Stressing the need for Indian industry tapping global supply chains, Prabhu said, “Manufacturing cannot happen end to end in one geography. It has to be part of a global value chain and global supply chain. That is why we are discussing a new industrial policy which is awaiting Cabinet approval, focusing on how to develop mutually beneficial value chain and supply chains.”
Growth in India’s merchandise exports slumped to 0.8 per cent in November from 17.86 per cent in October, the result of an unfavourable base effect, as the trade deficit narrowed benefitting from a sharp fall in crude oil prices. World Bank last week said India is expected to remain the fastest growing emerging market economy. It has kept India’s growth forecast unchanged at 7.3 per cent in FY19 while the economy is expected to grow at 7.5 per cent in the next 3 years.
After identifying 12 ‘champion sectors’ which can attract investments, the government has prepared a list of 150 global companies sitting with huge cash balance which will be targeted to get investments, Prabhu said.

indianexpress.com