India ahead in race

June 30, 2016 2:12 pm

With increasing focus on local manufacturing and concerted efforts to improve our standing on ease of doing business, India is indeed in an advantageous position as compared to rest of the world.L. Krishnan, Managing Director, TaeguTec India
  The most important factors in favour of India are demography and demand, says L. Krishnan, Managing Director, TaeguTec India. He also elucidates how Indian manufacturers can make the most of “Make in India”.
Set for actionThe “Make in India” initiative of the Government of India is a movement that aims to bring the focus back into manufacturing. While sectors like auto and auto components have reached certain critical volumes in the country, many other sectors like electronics and defence have very high import dependence. In such sectors with high volumes of imports, the impact of getting policy makers to look at impediments and incentives to accelerate domestic manufacturing would be significantly felt. In any case, it would take some more time for real action to commence on ground.
Success mantra for Indian manufacturersElectronic manufacturing and defence or aerospace manufacturing are very new segments of focus for the country. With liberalisation of licensing processes and relaxed FDI regulations for defence production, manufacturers in India desirous of focusing on these segments can hope for right technology partners and get started. 
India is indeed in an advantageous positionThe most important factors in favour of India are demography and demand. With increasing focus on local manufacturing and concerted efforts to improve our standing on ease of doing business, India is indeed in an advantageous position as compared to rest of the world. Not many large-size economies are growing at a rate similar to India.
Major roadblocksDifficulties in doing business, antiquated labour laws, and underdeveloped infrastructure for movement of goods are some of the serious impediments that policy makers are focusing on. However, real big change will be seen over the medium term.
“Make in India” and TaeguTec India TaeguTec India came to the Indian market 15 years ago, when there was no “Make in India” initiative around. Over the past 15 years, the company has invested significantly in terms of capacity as well as technology to stay relevant and competitive. TaeguTec India is hoping the “Make in India” initiative will accelerate demand in the times to come.