Advantage India

June 30, 2016 12:54 pm

While the economy continued to slowly inch ahead, it needed some major stimulus and drivers of change which came in the form of “Make in India” initiative.Rajesh Chowdhry, GM – Sales, India and SAARC Nations, Groz Engineering Tools
  “Make in India” initiative not only encourages and supports the manufacturers, but works as a global marketing campaign as well, says Rajesh Chowdhry, GM – Sales, India and SAARC Nations, Groz Engineering Tools. He also talks on how Indian manufacturers can make the most of “Make in India”.  India RisingIndian economy largely stayed insulated to the major global recession in September 2008. In fact we even saw a few good years thereafter – however China manufacturing continued to overshadow India. Past 7-8 years, the manufacturing growth was limited to domestic consumption and staying to mostly low single digit growth percentage. However we were continued to be seen as an average to good large economy due to India thriving and consolidating on the outsourcing of services to the western world. Rather than any initiatives by the government, the credit for this could be associated to:• Demographics of young English speaking population• Private companies, both local and global, showing trust and investing in the services economy.
While the economy continued to slowly inch ahead, it needed some major stimulus and drivers of change which came in the form of “Make in India” initiative.
For the very first time, the entire world saw some serious initiative by the Indian government. Several corporate, investors – both Indian and foreign as well as new entrepreneurs have mooted investment proposals, some of these are already moved to implementation phase.
Though we are still early in that cycle, it should easily catapult India into a growth orbit similar to what China stayed for past almost two decades.  This was a much needed relief and change. Today the whole World has started looking at India a viable option to China. Make in India: A global marketing campaignModern times, especially past decade or so has seen a positive shift in the global perception for India both in terms of quality of products, designing capabilities as well as reliability of supplies. “Make in India” initiative not only encourages and supports the manufacturers, but works as a global marketing campaign as well – lead by the Prime Minister, one of the most popular global leaders of recent times. Sustenance of this effort would mean: • Increased interest by global customers is already resulting into a very positive change in terms of the new enquiries for shifting the supplies source to India.• Investments to modernise the manufacturing technology – amortising the cost based on partnerships.• Increasing the cost competitiveness through leveraging domestic consumption and enormous export opportunities of intermediate as well as finished goods. India – the preferred destinationThere are several factors that contribute to India’s emergence as preferred destination for global investors. Some of the factors include:• Population and demographics• Availability of skilled manpower for several sectors• English speaking population, agility and flexibility to change. Roadblocks to “Make in India”Apart from building the infrastructure, the only roadblock at this initial stage is – we need to increase our own belief in this initiative as well as the whole process of change. This needs building far more consensus and increasing the marketing effort by the Government of India. Groz and its “Make in India” initiatives Groz Engineering Tools is extremely excited on the “Make in India” initiative since the company has been executing “Make in India for the World” strategy since 1976 – into the 40th year now.

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