Industry Update

Acquiring regulatory clearances should be simpler to help manufacturers expand

Getting regulatory clearances are made simpler and more transparent it will certainly help manufacturers to expand and perform better.B Venugopal, Managing Director, Guindy Machine Tools Ltd
  Established in 1959, Guindy Machine Tools (GMT) manufactures a wide range of manual chucks, power chucks and special chucks. It makes custom built chucking system for special applications. GMT is the one of the leading manufacturers of workholding devices and metrology equipment in India.
Right steps in right directionThe ‘Make in India’ program was launched in September 2014 with an aim to transform India into a global manufacturing hub.  Although it is too early to write about the impact of ‘Make in India’ initiative, the government has taken the right steps in the right direction. Giving importance to the manufacturing sector rather than depending on the service sector is commendable. ‘Make in India’ has created interest worldwide and is now recognised globally which is a good sign.Receiving regulatory clearances should be simplerGetting regulatory clearances are made simpler and more transparent it will certainly help manufacturers to expand and perform better. Indian manufacturers can benefit from some of the new initiatives such as online environment clearances; extension of validity of industrial licence, electronic registers etc. Innovators and creators can benefit from improved intellectual property rights and can apply for patents.
Why India?Regulatory compliance’s, poor transport infrastructure and some negative factors which are outweighed by huge market base, comparatively low labour costs, abundant semi-skilled workforce, macroeconomic stability and the perception about political & social stability has made India a preferred destination.
Roadblocks & obstaclesThe delay in regulatory and environmental clearances, bureaucratic complexities and land acquisitions are some of the major issues to ‘Make in India’ drive. The government is aware of it and is working to remove these roadblocks.
‘Make in India’ will help GMT to foray into design & manufacturingGMT manufactures engineering products and since then have been providing solutions to various import substitution problems. This ‘Make in India’ initiative can help GMT to foray into design and manufacturing for companies worldwide.                                                   

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