INNOVATION: NEED OF THE HOUR FOR INDIAN MANUFACTURING

Innovation remains a challenge for Indian manufacturing sector. The industry and panellists deliberated on ways and means to further accelerate innovation across manufacturing processes.

- Nisha Shukla

India is one of the fastest-growing economies in the world and Innovation is essential to sustain this growth trajectory. With the manufacturing sector contributing significantly to the GDP, innovation can help drive growth, competitiveness, and job creation.

As far as companies are concerned, several manage to achieve success in a short span, but a lack of innovation prevents them from replicating. Innovation remains a challenge for the Indian manufacturing sector. It is encouraging that India has jumped to 40th rank in the global innovation index. There should be more bridges, links or partnerships between academia, industries, and policymakers to facilitate R&D, support talent, cement gaps and propose new ideas. To discuss such new ideas an engaging session was hosted at the Nalanda Hall on Innovation: Need of the Hour for Indian Manufacturing.

The eminent panellists who discussed in length on the topic comprised Amol Nagar, Managing Director, MMF – India, GE Aviation; Shishir Sharma, Chief Sales Officer, RR Kabel; Narendra Shah, Director, Bayer Vapi; Anil Choudhary, Vice President - Materials, Industrial Solutions and Surface Technologies for BASF India & Whole-time Director, BASF India Ltd and Zurvan Marolia, Sr Vice President and Head of Manufacturing Council, Godrej and Boyce. The engaging session was moderated by Rony Banerjee, Advisor, EY.