A long way to go

June 26, 2014 6:09 am

The govt of India needs to push ahead relentlessly with large scale infrastructure projects that will change the face of the country
Today ElectroMech is one of the largest EOT cranes manufacturers in India. It offers solutions for various applications in manufacturing plants and infrastructure projects through a range of hoists and cranes. Being interested in India’s journey towards becoming global manufacturing hub, Tushar Mehendale expresses his views on the roadmap.
A lot of ground to coverIndia has quite a lot of ground to cover to become a truly global manufacturing hub. Productivity in the economy needs to increase to a large extent. Bottlenecks right from the basic education system to infrastructure need to be addressed on priority. Red tapism and instability in the government further add to the woes of the manufacturing sector.
The investment environment needs a lot more confidence inspiring measures. Ambiguity in taxation laws and application of retrospective taxes hurt the confidence of investors. This kind of uncertainty should not exist to create an environment that can sustain growth in the long term.
Get going factorsInfrastructure development is usually a positive indicator of the economic growth of a country. As a country undergoing rapid development, the construction and infrastructure sectors are witnessing an increase in activity. Several other complementary industries, such as steel and cement are growing as well.
The power sector is also expanding in India and hence there is demand for a variety of equipment from this sector.

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