Focus on export market

June 26, 2014 5:45 pm

India is trying to get into the export market, but the major problem is the cost of finance and lack of stable economic growth and economic policies
Fibro is one of the market leaders when it comes to standard parts, tool construction, mould making and mechanical engineering. Today its employees are active worldwide in the fields of standard parts and rotary tables. Vivek Nanivadekar shares his views on making India as a global manufacturing hub.
Great opportunity in near futureIndia has some plus points as well as some minus points. India is having large labour and reasonably good technical schools.                                                                                                        India is compared with China because of the size and the potential for growth in economy. However, in China, due to one child policy the labour availability has started declining and at the same time the cost of labour is increasing. This is an opportunity for India as now many investors are interested for investments in Indian manufacturing sector. In next 10 – 20 years, China will have more labour problems which in turn will create a good chance for India to become manufacturing hub.
Secondly, keeping in mind, importance of agriculture sector in India, it will help India if it adopts Punjab model where agriculture and manufacturing goes hand in hand. In addition, more employment in manufacturing sector could be witnessed in near future as India’s reasonably good technical schools generate required technically sound manpower every year.
Effective factorsIndia needs to concentrate on exporting business as well as its domestic market. Today in the world trade scenario, India has hardly one per cent share. India is trying to get into the export market, but the major problem is the cost of finance and lack of stable economic growth and economic policies.
Further, the industry and the university should work very closely the way they are operating in the western countries. In India, it is seen that mostly the academics and actual practical work in the industries hardly match each other. Overcoming such issues effectively would certainly help stimulate India’s manufacturing growth.    Govt can make it betterThere are some things which need betterment from govt side.  Infrastructure like roads, water, electricity, and seaport facilities must be improved.
The infrastructure has been very poor particularly for the new industrial zones which government has declared. Industry faces a lot of problems due to usual scenario where first industry arrives and then the infrastructure. All these issues need attention of govt.
Fibro’s roadmapAs Fibro India Pvt. Ltd. is 100 per cent German subsidiary, its roadmap is following German design and precision, to manufacture ‘made in India’ products at Indian cost. The company will indigenise products which will have domestic market as well as potential in export.
Fibro provides a broad range of services including its comprehensive standard parts. The company advises on the most efficient use of its products and help select the right gas springs, slide elements, or guide elements. It also supports during the construction of press tools, drawing tools, stamping tools, prototype tools etc. Its extensive process-chain expertise helps its customers optimise processes in key sectors. It also offers construction support through its products.
Vivek Nanivadekar, Director, Fibro India Standard Parts Pvt. Ltd.