‘Make in India’ – a much needed push for manufacturing sector

June 21, 2016 2:04 pm

The ease of entry through ‘Make in India’ initiative and sustained growth of the Indian economy has made the Indian market one of the top business destinations today.Jayant Rajan, General Manager – India and South Asia, Armacell India
  Armacell has been present in India since 1999 and with the commissioning of its Pune manufacturing plant in 2006; Armacell has been able to serve the Indian market well.
Jayant Rajan, General Manager – India and South Asia, Armacell India shares his views on the future of ‘Make in India’.
Sector witness good investmentThe Indian manufacturing sector has witnessed a substantial investment in the manufacturing sector since ‘Make in India’ has been launched. It is interesting to see the Indian market open up breathing space in a lot of cut-throat competition markets for foreign players through this initiative. In addition to that, the Indian manufacturing sector has received the much needed push towards double digit manufacturing output year-on-year which will enable the economy to reduce the trade deficit that exists in the current market.
Lenient governance to conduct business The ‘Make in India’ initiative has bought in a variety of platforms for the Indian manufacturers to avoid the red-tape nature of governance which was prevalent in the Indian market and enable them to conduct their business in a more open and transparent way. This has in turn resulted in increased focus on quality products and cost-efficiency which shall be of great help to the end-customer and the overall market.
Ease of entry through ‘Make in India’The current Indian market has huge potential for growth and with huge pool of untapped market segments present in various industries; it is a very lucrative market for the global players. The ease of entry through ‘Make in India’ initiative and sustained growth of the Indian economy has made the Indian market one of the top business destinations today.
Lack of coordination between central & state governmentsThe government of India has initiated the ‘Make in India’ drive on pan India basis but one of the major areas of concern or the success of this initiative is the lack of coordination between the central and state governments. As long as both the governments serve a common agenda of development, there is no reason for the ‘Make in India’ initiative to face any hurdles.
‘Make in India’ helps to provide quality productsThe ‘Make in India’ campaign provides a variety of market tools for easing the governance and performing in the Indian market. Through this initiative, it is easier for market leaders like Armacell to continue providing quality products and services to the Indian market. Easing of the taxation policies shall help the market place become a more levelled playing field for all the players which shall in turn, help the end customer.