“It’s time to focus on export than import”

June 26, 2014 6:51 am

 Nowadays, with good banking setup and government support for investment, huge projects are being set up in the country and more investment is being made on R&D centres
Involute Technologies Pvt. Ltd. believes in delivering precision auto and industrial transmission products manufactured as per the satisfaction of its customers. It understands that ‘sense of urgency’ is the need of today’s flat world. Assuring continuous improvement in its process capabilities, technology and quality management systems to match the demands and challenges of global customers, M M Shinde shares his views on India’s ‘journey-in-talk’ of becoming global workshop.
Some good signs                      It doesn’t take just one thing to become global manufacturing hub. Many things like raw material, trained manpower, investment capability and good infrastructure would prove helpful in becoming so.
Almost all metallic and non-metallic raw materials are available locally; hence India has very little dependence on importing those ones. Moreover, it is said that India has the largest pool of professionals and second largest pool of technicians looking at the huge number of engineers passing out every year. However, present Indian engineering education system needs to adopt some changes. It should be based more on current needs of industries and practical knowledge rather than theories.
One more good sign is, nowadays, with good banking setup and government support for investment, huge projects are being set up in the country and more investment is being made on R&D centres as well.
Negative pointsSome negative points can be observed as well. The government has reached policy paralysis with no major infrastructure projects recently. Further India seems to have high inflation and high capital cost as compared to other major countries. Reduced agricultural subsidy and loan waiver to farmers also matter. In addition, currently there are no effective platforms in India to explore good ideas and talent.   
Besides all the above factors, one more upsetting factor is that most of the India’s manufacturers are happy with trading, buying or importing material and selling. This trend should be stopped. It’s time to focus more on exporting rather than importing.
Role of govtThe government is planning to spend a sizeable amount in infrastructure; the outlay in 7th plan is estimated to be $ 75 billion. Now govt should focus on creating conducive atmosphere for growth by investing in infrastructure projects. Also it should attract foreign investment to stimulate GDP growth in excess of 8 per cent. Other steps it can implement are reducing cost of capital, reducing taxes etc.
Involute’s strategyAs of now, it is just wait and watch for Involute Technologies. However, with some positive indications from government, it will plan investments of ` 50 million keeping itself always focused on adding new technologies.
Getting encouraged with its initial success with supplying turned components to Bajaj Auto, Involute Technologies was started in 2000 to supply quality gears and components. The growing streak included infrastructure, equipment, know-how, clientele and the team who made the company vision their mission.
M M Shinde, Manager Design, Gear Box Division, Involute Technologies