Make in India has raised confidence of investors

July 5, 2016 5:15 pm

Indian manufacturers can strategically merge their existing skills with the latest technologies to produce a “win-win” situation for all the stakeholders.Dr. Ashish Manchanda, Managing Director, Finder India Pvt Ltd
  “Make in India” drive from the Prime Minister has raised the confidence level of many foreign investors who were flocking earlier to other countries, says Dr. Ashish Manchanda, Managing Director of Finder India Pvt Ltd, a subsidiary unit of Finder S.p.A., Italy. He also explains what’s changed about Indian manufacturing sector after “Make in India” initiative announced.
Changing mindsets The primary aim of “Make in India” is quite different than “Made in India” i.e. to get the investments in manufacturing segment from international companies. The significant change has been in the mindset of transnational companies who now are actively considering India also as a manufacturing centre and as a result are now open to explore the possibilities.
The “Make in India” drive from the Prime Minister has raised the confidence level of many foreign investors who were flocking earlier to other countries and have now started realising that barring a few different apprehensions here, they have quite a unique set of opportunities, which surpasses these concerns.
Creating a win-win situationTraditionally Indian manufacturers have been very strong in their profound business sense and astute grip on the complex scenario of doing business in India. However, due to the perils associated with a developing economy where low cost and L1 business trends have resulted in almost negligible technology value addition in the manufacturing sector, India in many industry sectors has lost the touch with research and development activities.
With this opportunity of entailing various industrial players from developed economies in the world, Indian manufacturers can strategically merge their existing skills with the latest technologies to produce a “win-win” situation for all the stakeholders.India – a commercially viable economyThe world order has changed over the last century. Earlier it was the military power which was governing the world order with nuclear power being the reason for strategic tie-ups among the countries in the world. But now the world order has largely shifted to economic strengths of the countries. The attention of the world is on the countries with economic power i.e. massive youthful manpower, emergent middle class population, progressive educational systems, supportive setup etc.
In a nutshell India has all of the above and also the evident gap between the demand and supply of sustainable infrastructure. This gives ample of opportunities for global investors to consider India as a commercially viable economy.
How to overcome challengesGlobal market is evolving more dynamically in technology as well as in the commercial environment in which companies operate. Efficient systems, ethical work culture, up-to-date technical competence, conversant skill-sets, multi-tasking, ease of doing business, adoptability to think global, willingness to look beyond long-established models etc. are few important areas where Indian organisations and government together will also need to built-up their expertise.
Above all a culture of trust and reliable business environment has to be created for which every citizen of India including the decision makers in society have to contribute through their respective individual efforts.
Increasing footprint in IndiaIn India, Finder has built the reputation in the business of switching and automation components which are not compromising on quality in terms of manufacturing competence, innovation drive and solution-oriented customer focus.
Apart from a range of interposing relays and timers that are suitable for Indian industrial conditions, Finder has enhanced its footprint in the field of line monitoring solutions, SMPS power supplies, lightning and surge protection devices, panel thermo – regulation products, and energy saving devices which find their application in electrical and control cabinets universally. Being one of the leaders in the industrial switching components, Finder also merged this leading relay technology with a lot of innovative energy saving products for the building and infrastructure segment.
Finder India too has always followed a product value strategy aimed at constantly increasing value for its customers. The company has further investment plans in the country for value addition in terms of manufacturing interfacing products and creating customised solutions for the Indian industry. This will help in not only adding value but also timely roll out of new products in the market.