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India has to aim at achieving a long term GDP growth rate of 8 to 10 percent
to substantially improve the living conditions of its people for which the manufacturing sector
should target an average growth rate of 12 to 14 per cent. After detailed discussions with the
Industry, Economists, Academia, Government Departments concerned including Planning Commission,
Economic Advisory Council of the Prime Minister and various stakeholders, “The National
Strategy for Manufacturing” (NSM) was prepared and submitted to the Government in the year
2006 for its adoption and implementation. It attempted to identify the areas of policy and outlines
the strategic directions that need to be pursued in order to realize higher levels of growth and
employment. The NSM has been adopted by the Government to serve as a guideline for future.
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