The ministry of commerce and industry is formulating three policy proposals which would be presented before the Cabinet in the next one month for final approval.
“We are preparing Cabinet notes on national manufacturing policy, Delhi-Mumbai industrial corridor (DMIC) and allowing FDI in multi-brand retail. The notes on national manufacturing policy and DMIC will be rolled out in a day or two but FDI in multi-brand retail might take some time,” an official involved in the preparation told FE.
The draft manufacturing policy has already been approved by an inter-ministerial group.
The Cabinet note on DMIC will highlight the financial, institutional and structural developments for the new industrial cities, corridors and infras-tructure requirements of the corridor.
“This note will also be highlighting changes in the ownership involving the transfer of 51% equity of IDFC and IL&FS to government-run financial institutions. The government will continue to hold 49% in the venture,” official sources said.
