India can go local to global

June 26, 2014 4:48 am

If local sector gets out of the mental silo of playing safe, India can go local to global. Time has come to adopt a global mindset
 Rishabh Instrument Pvt. Ltd. has over two decade of experience in manufacturing, sourcing, and cost reduction. Its vertically integrated setup has been a logical alternative for many global companies. Priyatosh believes India has the ability to go from local to global and explains what should be done for the same.
‘Made In India’ could become a success storyThough India was not aggressive enough to seize significant manufacturing competitiveness gains till now, going forward, ‘Made in India’ could become a manufacturing exports success story. The global trend to manufacture and source products in low-cost countries is gaining prominence steadily over the past few years, specifically in the skill-intensive industries where India has a significant competitive advantage.
India needs to have a global mindset along with a careful selection of product segments or offerings and also quickly build on existing cost advantage and marketing capability. Adding to that, key reforms in taxation, infrastructure, capable labour and skill development are needed in order to achieve India’s manufacturing potential. Majority of Indian manufacturing companies are largely domestic market-focused, and pursue mostly undifferentiated business models.
If local sector gets out of the mental silo of playing safe, India can go local to global. Time has come to adopt a global mindset to build, scale and achieve cost excellence, acquiring market access rapidly, also including inorganic growth routes, strengthening design and innovation skills, and mastering the ability to manage a world-class talent pool and organisation.

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