India mulls plans to create 100m manufacturing jobs

India is mulling three competing proposals designed to boost manufacturing to create 100 million new jobs by 2025, but the bold target will require India's laggard manufacturing-based industries to grow 3 percent faster than the broader economy, the Economic Times reports.

So far, the signs aren't good, as dissent among the industry ministry, the National Manufacturing Competitiveness Council (NMCC) and the Planning Commission suggests this may well turn into a "too many cooks" situation, as already the prime minister has been forced to delay a meeting to try to reconcile the three plans. 

According to ET, the industry ministry's draft policy has proposed creating national manufacturing and investment zones (NMIZs), but the Planning Commission believes this scheme is too narrow (there are already a bejillion Special Economic Zones) and recommends reforms in land acquisition and investments to improve infrastructure, as well as some changes to trade policy.

If they ever come up with a plan, and it works, manufacturing will account for 25 percent of GDP by 2025, up from 16-17 percent currently.