Published in:
The Economic Times
Pubished on:
25 Nov 2015
As per the definition by the Department of Industrial Policy and Promotion, "any change in the physical object resulting in transformation of the object into a distinct article with a different name or bringing a new object into existence with a different chemical composition or integral structure" would qualify as manufacturing.
Companies that assemble products in India, such as those in the automobile and telecom sectors, stand to gain while those that have simply been processing or relabeling products won't qualify as manufacturers, according to experts.