Make in India – an aspiration

June 30, 2015 3:17 pm

 Headquartered in Daegu, South Korea, TaeguTec is one of the leading players for modern tooling and solutions. TaeguTec India was established in the year 2000. Having a state-of-the-art factory in Bengaluru, the company manufactures comprehensive range of tooling.
TaeguTec observes that ‘Make in India’ initiative combined with appropriate initiatives on ease of doing business will yield results. In an interview with Neha Wagle, L. Krishnan, Managing Director, TaeguTec India elaborates the roadmap for ‘Make in India’.
Terming this initiative as ‘a great opportunity’ Mr Krishnan said, “The thrust on local manufacturing has obviously a positive ripple effect for metalworking participants.” One of the targets under the government’s Make in India campaign is to achieve an increase in the contribution of manufacturing output in the country’s GDP to 25 per cent by 2022 from the current levels of 16 per cent. “This commitment has all the making of creating substantial demand across the entire value chain in the manufacturing industry,” he adds. “With attention – and budget – being diverted to improving infrastructure as well, a virtuous cycle of demand and investment can be expected which in turn will help boost the overall economic scene.”
Ease of doing business to yield resultsSharing his viewpoint on how ‘Make in India’ can achieve success, Mr Krishnan said, “This initiative combined with appropriate initiatives on ease of doing business will yield results. Several of these initiatives will have to come from states working together with the centre. Ease of doing business, which includes regulatory simplification, effective compilation and dissemination of approval-related communication ideally one-stop and online, and improved delivery of services to investors are possibly some of the most crucial steps towards ensuring the success of this campaign.”

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