After detailed discussions with the Industry, Economists, Academia, Government Departments concerned including Planning Commission, Economic Advisory Council of the Prime Minister and various stakeholders, “The National Strategy for Manufacturing” was prepared and submitted to the Government for its adoption and implementation. It attempts to identify the areas of policy and outlines the strategic directions that need to be pursued in order to realize higher levels of growth and employment. India has to aim at achieving a long term GDP growth rate of 8 to 10 percent to substantially improve the living conditions of its people for which the manufacturing sector should target an average growth rate of 12 to 14 per cent.