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`India will soon become manufacturing hub'

Our Bureau

New Delhi , Sept. 19

India would soon become a manufacturing hub riding on the back of its natural advantages of knowledge infrastructure, strengths in manufacturing and the ongoing focus to enhance competitiveness, said Dr Ashwani Kumar, Minister of State for Industry.

The Minister was speaking at the 3rd Indo-US Economic Summit here recently. He referred to a recent study, which pointed out that in 50 years, India's import of electronics goods would swell overtaking the oil imports. That would spur an investment boom in IT and electronic hardware sector. He invited the US businessmen to take advantage of those emerging opportunities by investing in India in these segments.

Laying emphasis on the SME sector in India, the Minister said that the Government was taking several initiatives to nurture this sector.

Some of the programmes in this regard included revamping Technology Upgradation Fund scheme and ingraining greater degree of innovativeness across the SME sector. The Government was evolving a scheme for this purpose in consultation with National Manufacturing Competitiveness Council.

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