Protection of manufacturing major political consideration: Sharma

April 20th, 2012 - 5:53 pm ICT by IANS  

Puerto Vallarta (Mexico), April 20 (IANS) Commerce Minister Anand Sharma has said protection of the manufacturing sector is a major political consideration, even as India is trying to further integrate itself with the global economy.

“The growth of manufacturing is a key political consideration for countries across the world as manufacturing alone has the potential of absorbing millions of people who are joining the workforce,” Sharma said in his address Thursday at the ongoing G20 trade ministers’ meet in Puerto Vallarta, Mexico.

Speaking on the emergence of multinational corporations and consolidation of businesses across the world, Sharma said India was trying to integrate itself with the global economy and climb the value chain in terms of manufacturing.

“Even as we endeavour to integrate ourselves with the global economy, each of us aspire to move up the value chain and not remain confined to the lower rungs of value added manufacturing,” the minister said.

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