Nov 04

India Approves New Manufacturing Policy that Threatens US Manufacturing Growth

By King White

India announced a new national manufacturing policy that aims to boost the output of the manufacturing sector from 16% to 22% of gross domestic product and create 100 million new jobs. Under the policy at least seven National Investment and Manufacturing Zones ( NIMZ) are proposed to be set up in the North and West. A survey has been commissioned to set up similar zones in the South. These zones would be greenfield integrated industrial townships and the areas weill be at least 5,000 hectares. These economic development strategies will make India become a threat to other low cost offshore markets and more importantly the United States.  The United States needs to get our economic development strategies in order to avoid losing additional market share to offshore locations.  For details on the new policy, the following article will provide additional information http://www.globalpost.com/dispatches/globalpost-blogs/the-rice-bowl/india-approves-new-manufacturing-policy.  

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