Review and revamp

June 26, 2014 6:03 am

A review and revamp of some sticky current issues is needed
 Being one of the global leaders in the manufacture of cranes and components, Demag supplies solutions for all types of material flow, logistics and industrial drive applications with its industrial cranes. Manojit Acharya shares his views on constructing India as one of the leaders in manufacturing sector on global stage.
Capable enoughIndia has a large coastline, educated workforce, economical labour, potential education system, improving power scenario and an ability to produce good quality products that are acceptable to global customers. Thus India is definitely capable enough to become a manufacturing hub.  In early 90’s it is seen that when offered a opportunity and the right investment climate, manufacturing companies have flocked to India to set up base initially to address domestic demand and later to export to other markets.
A review and revamp of some sticky current issues is needed including certain land acquisition policies. Interaction between departments is required to clear large projects on priority. There is also a need to have specific skill development in certain trades to provide a reasonably trained workforce. Creating a favourable investment climate through confidence is necessary and India has the right climate for it. However, this is not a magic wand process. Global demands have shrunk in the past few years and it will take a few more years to bounce back.
Important factors for growthSome factors are really important when it comes to the growth of Indian manufacturing. One of these is ability of Indian manufacturing sector to deliver good quality products which will be acceptable in the global markets. Availability of skilled and educated workforce would be another advantage. Reliable power supply and a well-developed internal infrastructure for providing easy access to the ports are also major factors in the process.

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