India's Manufacturing Industry Poised for Continued Growth in New Year
Sony Thayil
Chief Business Officer II Business Head II Country Manager II Catalyst Of Sustainable Development
Happy New Year to all! As we welcome 2023, I am extremely proud to see India's growing global competitiveness in the manufacturing sector. In recent years, we have made significant strides in improving our infrastructure, increasing efficiency, and attracting investment from top multinational companies.
After entering 2023, I am confident that India's growing global competitiveness in the manufacturing sector will continue to drive economic growth and development in the country. I believe that with the right policies and investments, we have the potential to become a global leader in the manufacturing industry.
Explore some of the important pointers that can prove to be a booster inspiration for the Indian manufacturing sector.
????The Changing Landscape of Global Manufacturing: India's Chance to Step Up
领英推荐
? Big tech Giants have announced that they will manufacture products in southern India, marking the first time the companies are on a fast run to start manufacturing leading-edge products like smartphones and related products in India.
? The decision is seen as a vote of confidence in Indian Prime Minister Narendra Modi's efforts to boost industrialization through higher tariffs and production-linked subsidies.
? India's success in software-services exports has created many jobs, with the information-technology industry directly employing only 5.1 million people in a country of 1.4 billion.
? India's manufacturing strategy involves raising tariffs and paying firms to meet production targets. The government plans to pay out up to INR2 trillion ($24.3 billion) to companies that meet targets in 14 sectors of the economy over the next five years, in an effort to spur INR30 trillion ($365 billion) in economic activity and create six million new jobs.
? There is skepticism about India's approach, with the country having retreated from multilateral trade pacts and ongoing issues with infrastructure and the ease of doing business.
? Global events, such as China's missteps and the reordering of global supply chains, may also present opportunities for India to benefit from companies looking for new manufacturing locations.
Real Estate Professional I Commercial, Retail, F&B Expansion I Franchising I
1 年Asahi Glass we have a project at Andheri East, MiDC, Mumbai by the name of Sunrise Tower. We have used Blue Cove Glass for the project. The glasses have been breaking on regular intervals. We had ordered 24 glasses approximately 5 months back and till date they stay undelivered. We are just sticking plastic sheets on the broken glasses as the delivery is not happening. I m writing this here as we ve been tired following up with the mumbai team. But there is no solution till date. We have paid the entire amount as well. Hope this reaches the higher concerned people in the company and they help us with getting the glasses delivered.