Conducive environment to be created

June 26, 2014 4:22 pm

Today cities like Pune, Chennai, Manesar have been recognised by German, Swiss and Korean companies as suitable industrial hubs. By having such more places, conducive environment should be created to set up manufacturing plants.
Being one of the world leaders in developing new bearing technology, SKF has developed understanding of rotating equipment and how machine components and industrial processes are interrelated. Today SKF provides a range of technologies and products to OEM and aftermarket customers around the world, in every major industry, at each phase of the asset lifecycle. Shishir Joshipura shares his views on India’s present and probable future position in world manufacturing sector.
Leverage on the strategic advantageIn order to develop a strong manufacturing base it is important for the country to leverage on the strategic advantage it has to offer compared to other manufacturing destinations in the world. The advantage India has to offer is skilled and English speaking manpower and a large domestic market.  Pivotal factors for success in manufacturing industry are productivity and cost-effectiveness. Competence of the available talent should be raised to increase the productivity. Cost-effectiveness on the other hand is linked with increasing efficiency and bringing innovation in the system.
Having fresh graduates and engineers with a lot of potential, all we need to do is guide them and channelise their energies through vocational and skill enhancement training. One of India’s biggest strength is the fact that English is the business language and that opens up numerous possibilities of interaction at global level as more and more MNCs are setting up manufacturing hubs in India.
Today cities like Pune, Chennai, Manesar have been recognised by German, Swiss and Korean companies as suitable industrial hubs. By having such more places, conducive environment should be created to set up manufacturing plants. Once these things are done, automatically the difference could be observed in approach towards FDI business environment as well. This will also lead to development of industrial cities and create more employment opportunities.
Moreover, policy environment should become favourable for manufacturing. Though India is often perceived as the fastest growing economy by many industry experts, some flexible and transparent laws are needed.
Decisive factorsThere are some factors which could be decisive in the growth of Indian manufacturing sector. As manufacturing industry contributes substantially to India’s GDP, it should be one of the important agendas to promote economic growth in the country. Further, laws which are in sync with land and labour should be reformed to create the conducive working environment and lure foreign investors to invest. It will in turn create employment opportunities in the country.

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