Indian Companies Ask For Assistance With 12% Growth In Manufacturing

July 6, 2006
In order to hit the desired national goal of 12% manufacturing growth from the present 9% growth, Indian companies on July 5 asked for fiscal concessions, procedural modifications and financial assistance according to a July 6 report on indiantimes.com. ...

In order to hit the desired national goal of 12% manufacturing growth from the present 9% growth, Indian companies on July 5 asked for fiscal concessions, procedural modifications and financial assistance according to a July 6 report on indiantimes.com.

In a meeting with Finance Minister Chidambaram, heads of industry demanded that a national fund to them acquire hi-tech companies abroad. They also asked for fiscal concession similar to those that accompany economic zones.

Industry leaders offered to participate in the government 100 days minimum rural employment guarantee program, provided labor law is reformed in labor intensive industries like apparel and leather, according to the article.

Some companies expressed concern regarding inspections complaining that inspectors "try to harass industry in the name of procedure."

About the Author

Adrienne Selko | Senior Editor

Focus: Workforce, Talent 

Follow Me on Twitter: @ASelkoIW

Bio: Adrienne Selko has written about many topics over the 17 years she has been with the publication and currently focuses on workforce development strategies. Previously Adrienne was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck? which made the Cleveland Plain Dealer's best sellers list. She is also a senior editor at Material Handling & Logistics and EHS Today

Editorial mission statement: Manufacturing is the enviable position of creating products, processes and policies that solve the world’s problems. When the industry stepped up to manufacture what was necessary to combat the pandemic, it revealed its true nature. My goal is to showcase the sector’s ability to address a broad range of workforce issues including technology, training, diversity & inclusion, with a goal of enticing future generations to join this amazing sector.

Why I find manufacturing interesting: On my first day working for a company that made medical equipment such as MRIs, I toured the plant floor. On every wall was a photo of a person, mostly children. I asked my supervisor why this was the case and he said that the work we do at this company has saved these people’s lives. “We never forget how important our work is and everyone’s contribution to that.” From that moment on I was hooked on manufacturing.

I have talked with many people in this field who have transformed their own career development to assist others. For example, companies are hiring those with disabilities, those previously incarcerated and other talent pools that have been underutilized. I have talked with leaders who have brought out the best in their workforce, as well as employees doing their best work while doing good for the world. 

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!