In­dian Man­u­fac­tur­ers

The Economic Times - - Companies: Pursuit Of Profit -

17 per cent to GDP and em­ploys 12 per cent of the In­dian work­force. It is es­ti­mated that 10-12 mil­lion young peo­ple will en­ter the work­force each year for the next two decades and each 1 per­cent­age point in­crease in man­u­fac­tur­ing growth, could cre­ate as many as 20-30 mil­lion ad­di­tional jobs.

Make in In­dia en­gages sev­eral key driv­ers to boost the man­u­fac­tur­ing ef­fort. Un­der 'Ease of Do­ing Busi­ness', In­dia aims to achieve a rank of 50 in the World Bank Do­ing Busi­ness in­di­ca­tors in the next three years. A co­or­di­nated pro­gramme has been ini­ti­ated across min­istries and state gov­ern­ments to in­crease ad­min­is­tra­tive ef­fi­ciency through sim­pli­fied, time­bound and on­line pro­cesses.

In­fras­truc­ture and in­dus­trial cor­ri­dors with world-class fa­cil­i­ties and con­nec­tiv­i­ties con­sti­tute the sec­ond pil­lar of the Make in In­dia pro­gramme. In­dus­trial Cor­ri­dors have been iden­ti­fied across the coun­try, com­pris­ing Na­tional In­vest­ment and Man­u­fac­tur­ing Zones as man­u­fac­tur­ing and ur­ban hubs. In ad­di­tion, For­eign Di­rect In­vest­ment is be­ing en­cour­aged by fur­ther open­ing up sec­tors and fa­cil­i­tat­ing en­try of over­seas in­vestors.

Tech­nol­ogy, in­no­va­tion and de­sign are cen­tral to Make in In­dia, sup­ported by stronger In­tel­lec­tual Prop­erty Rights regime and the in­no­va­tive Start-up In­dia, Stand Up In­dia cam­paign. Fur­ther, skill devel­op­ment un­der the Skill In­dia mis­sion is also be­ing ad­dressed in mis­sion mode by the gov­ern­ment.

Make in In­dia syn­er­gises with other de­vel­op­men­tal cam­paigns as well, in­clud­ing Smart Cities, Dig­i­tal In­dia, and Clean Energy. Twenty-five sec­tors have been iden­ti­fied for pro­mo­tional poli­cies, cut­ting across man­u­fac­tur­ing, in­fras­truc­ture and ser­vices sub-sec­tors.

Taken to­gether, the many pol­icy in­stru­ments es­tab­lish a sound foun­da­tion for the growth of the man­u­fac­tur­ing sec­tor and cre­ate new op­por­tu­ni­ties for In­dian man­u­fac­tur­ers. Take de­fense, for ex­am­ple, where a new pol­icy en­cour­ages pri­vate sec­tor par­tic­i­pa­tion in pro­cure­ment es­ti­mated at $260 bil­lion. In rail­ways, an am­bi­tious pro­gramme en­vis­ages in­vest­ments worth Rs 8.5 lakh crore in the next five years. The elec­tron­ics man­u­fac­tur­ing sec­tor is ex­pected to at­tract $100 bil­lion worth of funds by 2020.

The prospects for the small and medium en­ter­prises (SMEs) are par­tic­u­larly ex­cit­ing as en­tire value chains are re­struc­tured un­der Make in In­dia. Part­ner­ships with large firms will en­able man­u­fac­tur­ing out­sourc­ing op­por­tu­ni­ties across a range of sec­tors for tier-1 and lower-tier sup­pli­ers. Un­der Ease of Do­ing Busi­ness, set­ting up and reg­is­ter­ing units is be­ing fa­cil­i­tated, and re­turns and labour reg­u­la­tions are un­der­go­ing sim­pli­fi­ca­tion through on­line pro­cesses.

In alignment with the gov­ern­ment's poli­cies, CII has un­der­taken many ini­tia­tives un­der the Make in In­dia um­brella. We were priv­i­leged to be the ex­clu­sive part­ner for the mega-event, Make in In­dia Week, hosted by the Gov­ern­ment of In­dia and the Gov­ern­ment of Ma­ha­rash­tra at Mum­bai in Fe­bru­ary this year. The Make in In­dia Week was at­tended by more than 2000 for­eign com­pa­nies from 102 coun­tries and al­most 70 busi­ness mis­sions from over­seas. Al­to­gether over 1,000 for­eign del­e­gates par­tic­i­pated, along with about 1,000 CEOs and in­dus­try lead­ers, 9000 In­dian com­pa­nies and about 4000 for­eign del­e­gates par­tic­i­pated dur­ing the Make in In­dian Week. This event strength­ened the In­dia brand, show­cased the suc­cesses of our man­u­fac­tur­ing sec­tor, and helped con­nect for­eign and In­dian firms for real busi­ness op­por­tu­ni­ties.

CII is also work­ing with the Depart­ment of In­dus­trial Pol­icy and Pro­mo­tion (DIPP) and state gov­ern­ments on 'Ease of Do­ing Busi­ness'. It is also iden­ti­fy­ing top sec­tors where In­dia can emerge as a world cham­pion, along with pol­icy rec­om­men­da­tions that can un­lock the po­ten­tial.

In line with the 'Zero De­fect, Zero Ef­fect' as­pi­ra­tion for high-qual­ity and sus­tain­able man­u­fac­tur­ing as enun­ci­ated by the prime min­is­ter, CII is strength­en­ing the ser­vices pro­vided by its Cen­ters of Ex­cel­lence. Tar­get­ing the ar­eas of qual­ity, com­pet­i­tive­ness, and pro­duc­tiv­ity as well as green busi­ness and energy ef­fi­ciency, among oth­ers, the Cen­ters of­fer a range

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