Focus on export market

By admin June 26, 2014 5:45 pm IST

India is trying to get into the export market, but the major problem is the cost of finance and lack of stable economic growth and economic policies
Fibro is one of the market leaders when it comes to standard parts, tool construction, mould making and mechanical engineering. Today its employees are active worldwide in the fields of standard parts and rotary tables. Vivek Nanivadekar shares his views on making India as a global manufacturing hub.
Great opportunity in near futureIndia has some plus points as well as some minus points. India is having large labour and reasonably good technical schools.                                                                                                        India is compared with China because of the size and the potential for growth in economy. However, in China, due to one child policy the labour availability has started declining and at the same time the cost of labour is increasing. This is an opportunity for India as now many investors are interested for investments in Indian manufacturing sector. In next 10 – 20 years, China will have more labour problems which in turn will create a good chance for India to become manufacturing hub.
Secondly, keeping in mind, importance of agriculture sector in India, it will help India if it adopts Punjab model where agriculture and manufacturing goes hand in hand. In addition, more employment in manufacturing sector could be witnessed in near future as India’s reasonably good technical schools generate required technically sound manpower every year.
Effective factorsIndia needs to concentrate on exporting business as well as its domestic market. Today in the world trade scenario, India has hardly one per cent share. India is trying to get into the export market, but the major problem is the cost of finance and lack of stable economic growth and economic policies.