Outpace China’s supremacy in manufacturing sector.

June 29, 2015 1:04 pm

We will have to keep up to our strengths to outpace China’s supremacy in the manufacturing sector.
Amar Kaul, Territory Vice President and Business Leader – India, Middle East and South Africa, Compressed Air Systems and Services, Ingersoll Rand
 Ingersoll Rand, one of the global leaders in compressed air technology, is committed to product innovation and design for industrial technologies, food safety, energy efficiency and sustainability. In an interview with OEM Update, Amar Kaul, Territory Vice President and Business Leader – India, Middle East and South Africa, Compressed Air Systems and Services, Ingersoll Rand highlights the recipe for ‘Make in India’.
Anticipates healthy growthThe ‘Make in India’ program focuses on new initiatives designed to facilitate investment, foster innovation, protect intellectual property, and build best-in-class manufacturing infrastructure. It encourages companies as well as entrepreneurs, whether big or small, to manufacture their products in India. ‘Make in India’ campaign together with some specific steps taken like ease of doing business, phased reduction of corporate tax, government’s resolve of rolling out GST, and investments in infrastructure development will boost the Indian economy.
Air compressor is an integral part of more than 90 per cent of industries and is considered the 4th utility. So, the growth in manufacturing will fuel the demand of air compressors as well. “Last year was a challenging year for industrial air compressor industry with the industry shrinking by approximately 10 per cent from 2013. We expect the ‘Make in India’ initiative will make this industry grow at a healthy CAGR in coming years,” says Mr Kaul.
Success formulaThe ‘Make in India’ campaign looks very promising since the time it was launched last year. According to Mr Kaul, few highs about the initiative are certain measures which shall help in increasing GDP growth, tax revenue, cut on duties on various goods, aiming good quality standards and to attracting investment in India for development.
Also, global investors who were looking for a stable government to start their business in India now have that need fulfilled which will definitely help kick-start FDI. “To sustain and grow the flow, Indian government would need to change rules, regulations and policies to make it investor friendly,” he adds.
In a survey done by the World Bank for 189 countries, India currently ranks 134 for ease of doing business, 186 for enforcing contracts and 179 for starting a business and this reflects on the room for improvement. “With the steps taken by the Government of India, we should be able to improve this substantially,” Mr Kaul asserts.

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