Integrate 'Make In India' With Foreign Trade Policy: Assocham

NEW DELHI: Industry chamber Assocham has suggested that government must use the opportunity to integrate proposed Foreign Trade Policy with the 'Make in India' programme.

"Integration or dovetailing of FTP with Make in India Campaign will help in efficient realisation of greater objective making India a low cost global manufacturing hub," Assocham President Rana Kapoor said.

 India should prioritise its manufacturing focus on key sectors where India already has existing strengths like Auto, Textiles, Pharma, Bio-tech etc. We should deepen and widen our capabilities and create strong global market share and mind share, he said.

It must provide incentives for Domestic Value Addition (DVA) that is the proportion of exports truly produced in India, he said.

In addition to textiles as a sector, which has nearly doubled its DVA component from 8 per cent in 1994-95 to 18 per cent as of 2013-14, electrical components and machinery exports should receive adequate support, so as to dovetail these sectors strongly into the 'Make in India' theme, he said.

'Create in India' is about creating products and brands through design and innovation backed by a strong manufacturing push, he added.

Electronics is also another key segment where India has a good talent base, domestic demand or consumption and necessary environment to create a strong manufacturing base, he said.