1. Emphasis to be given to the manufacturing industry across the board given the potential that it offers for employment generation. Even within Manufacturing Non-conventional energy, Food processing and Furniture are examples of sectors that offer great potential for employment generation especially among the non-skilled and semi-skilled. Special thrust to furniture will help bring to the mainstream the entire 1% of GDP that it generates, of which currently the organized sector generates only 5%, with the un-organized sector accounting for the remaining 95%. With a well laid out plan policy for furniture manufacturing, the output for the sector can be easily doubled in the next 5 years.2. EXIM policy should be sector-specific. Unfortunately, furniture as a sector does not have a dedicated classification and is being currently treated as a luxury item. In line with the norm of exporting a certain percentage of products from the SEZ, government should bring in a policy to enforce procurement of at-least 75% of capital, to set up SEZs, to be from local sources. Permit import only on non-availability of local equivalent.
3. Since affordable housing is a focus area, current budget to include incentives to service providers of such houses. Education & Hospitality are fast growth sectors. Furniture manufacturers for these sectors should also be incentivized.
Mr. Guru Prasad
Director
V3 Engineers
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