Harting
Harting

Do you want to advertise here? Contact us

LMW
LMW

Do you want to advertise here? Contact us

OEM Update
.

Startup India to make industry more competitive

By admin March 29, 2016 2:51 pm

Today our major competitor is China and they are devaluing their currency and becoming aggressively competitive. Indian government should also support us to make us more competitive.
  The ‘Make in India’ campaign is aimed at making India a manufacturing hub and the government is doing everything to lure investors. However, there are challenges too. Vivek Nanivadekar, Executive Director, Fibro India Precision Products Pvt Ltd outlines a few of such challenges. He also talks about the opportunities out of Startup India and Skill India.
Could you outline the challenges that the ‘Make in India’ faces?In India the basic challenges are the logistic, infrastructure and the License Raj. The new government has taken some steps and hopefully next one year the License Raj will get over and red tapism will go away and we should be able to do our business faster. We are 100 per cent confident that things will work as long as the current government is in power. There is a lot of potential for the ‘Make in India’ initiative and international community is also giving very good response for India.
Shouldn’t we promote ‘buy from India’ too?The major obstacle lies with the exporting Indian-make products. Today our major competitor in exporting is China and they are devaluing their currency and becoming aggressively competitive. Indian government should also support us to make us more competitive. PM Narendra Modi’s announcement on 100 per cent tax credit though Startup India would help us becoming more competitive. Now startups will be exempted from income-tax for a period of three years. It’s a great move!

Advertising

OEM Android App

Your future advertising space? Our media data

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Tags:
Webinar
Webinar

Do you want to advertise here? Contact us

OEM Update QR Code
OEM Update QR Code

Events

World of Photonics India
World of Photonics India
IFFE Expo
IFFE Expo
Clean India Show
Clean India Show
Factory Automation Expo
Factory Automation Expo
India Essen Welding and Cutting Expo
India Essen Welding and Cutting Expo
Logimat India
Logimat India
Metal Forming Expo
Metal Forming Expo

eMagazine October 2024

eMagazine October 2024
eMagazine October 2024

Do you want to advertise here? Contact us

Our Sponsors

DIRAK
DIRAK
Pragati Gears
Pragati Gears
Carl Zeiss India
Carl Zeiss India
STMCNC
STMCNC
Nord
Nord
Messer Cutting
Messer Cutting
Atos Profilo
Atos Profilo
Fronius
Fronius
SCHMALZ
SCHMALZ
Sigma-Weild
Sigma-Weild
Mallcom
Mallcom
igus
igus
DH Secheron Electrodes
DH Secheron Electrodes
Timken India
Timken India
UNP Polyvalves India Pvt Ltd
UNP Polyvalves India Pvt Ltd
ENS Oils & Lubricants
ENS Oils & Lubricants
Super Slides
Super Slides
Autonics
Autonics
Fuel Instruments  Engineers
Fuel Instruments  Engineers
Velvex
Velvex
Universal Orbital
Universal Orbital
Chicago Pneumatic Tools
Chicago Pneumatic Tools
MMC Hardmetal Pvt Ltd
MMC Hardmetal Pvt Ltd
Mennekes
Mennekes
ACD Machines
ACD Machines
TruCut
TruCut
tectyl
tectyl
BKT Tires
BKT Tires
Fibro India
Fibro India
Deceler
Deceler
Balluff
Balluff
Urgo Capital
Urgo Capital
Amsak Cranes
Amsak Cranes
Molygraph
Molygraph
SKS Welding
SKS Welding
pioneer Cranes
pioneer Cranes
Exorint
Exorint
Schmersal India
Schmersal India
Exon mobil
Exon mobil