India: Role model to developed nations

June 18, 2019 11:54 am

When the government is taking bold and modern steps, it is the industry’s duty to cope-up with a change and you can’t be giving lame excuses, says, Umesh Mukkannavar, Managing Director, IDS Technologies India Pvt Ltd. However, he feels that outdated technologies should make way for latest and robust technology solutions.

Views on Mudra loan
Mudra Loan is a very good scheme that empowers MSMEs. We have observed that many entrepreneurs have benefited by this scheme. However, we feel that existing ₹10,00,000 should be raised to at least ₹25,00,000.

Make In India inspiring entrepreneurs
Make in India is a vision, which will shape the future of Indian manufacturing sector for decades to come. By announcing it, the government has clearly mentioned its priorities for building a new India. It has given the much needed confidence in the manufacturing community and has successfully inspired entrepreneurs; especially the young and educated class. IDS, being a software product company, which is exporting software products to developing nations, indeed feels inspired by ‘Make in India’ initiative. Due to this initiative, many prospective customers have established factories in India for catering to other countries. India is emerging as an alternative destination to China for many European nations.

Digital India’s efforts to empower India
When the government is taking bold and modern steps, it is the industry’s duty to cope-up with the change. The industry must propel change by skilling our industry. Digital India is ‘Future India’. However, erratic and weak Internet connectivity is still a big hindrance. The government must provide a strong infrastructure and train its employees and take important policy decisions to strengthen infrastructure. If well executed, Digital India will curb corruption, improve literacy, increase competencies, and help rural industries.

Make in India vs Digital India
For Make in India to become successful, Digital India should succeed. The government is spending a lot of money for improving urban infrastructure. A well-conceived programme of both initiatives will help decongest cities. If manufacturing moves from metros to Tire 3 or semi-urban locations, it will yield many indirect benefits.

Tip to reduce manufacturing cost
Shifting to semi urban areas is a solution. At IDS, we took this decision of moving our operations from Mumbai to Belagavi and saw to it that our overheads were reduced by whopping 5.8 per cent. Reduction in overheads has improved our market share and our products have become more affordable.

Industry’s robust roadmap for the future
Concrete equipment and building material is growing rapidly in India. However, the growth can be manifold, provided we get favorable policy announcements from government.

Secondly, no stringent standards for ensuring quality and execution are in place. Issues such as quality, pollution control are yet to be categorically addressed by the government. Outdated technologies must be upgraded with the newer robust technologies, this shall boost the industry’s growth.

We took the decision of moving our operations from Mumbai to Belagavi and saw to it that our overheads were reduced by whopping 5.8 per cent
Umesh Mukkannavar, Managing Director, IDS Technologies India Pvt Ltd