Needs to boost manufacturing to bridge CAD, trade gap: DIPP

Needs to boost manufacturing to bridge CAD, trade gap – Department of Industrial Policy and Promotion (DIPP): India needs to boost its manufacturing sector to bridge the ballooning current account deficit (CAD) and trade imbalance, a top government official said on Thursday. The top five countries which have trade surpluses, three are manufacturing power houses – Germany, China and Japan. The remaining two are oil rich nations. “For sustainable manufacturing there has to be a depth in manufacturing, in R&D and production” Stated by the Secretary in the DIPP, Saurabh Chandra. Read More