The Indian government recently set the goal of making India a global manufacturing hub. This is also partly due to the need to reduce import bills. India needs to generate more employment opportunities for the youth, and the rise in the manufacturing sector has given much, especially to the rural youth. The number is estimated to be close to 400 million when the manufacturing sector reaches the needed scale.
While China still ranks first in the global manufacturing risk index, many companies are looking at a second manufacturing hub to meet their growing demand and fill in unforeseen logistics gaps. The world is quickly moving towards a secondary supply hub that can meet the demand of this fastpaced industry. The global manufacturing supply has already been disrupted a few times in the recent past, resulting in massive delays and losses. This is a golden opportunity for the Indian manufacturing sector to step up and fill the void created by this new necessity. However, the time at hand is short.
Accelerating the required infrastructure
The competition is strong and fast-evolving. Many global players have already invested in India or are on the verge of doing so. The government needs to make progress and fast-track the development of necessary infrastructure. Not to say that plans aren’t in place or aren’t being worked on. However, speeding up the infrastructure’s development rate will help the economy move a few steps ahead more quickly. The most basic and reliable infrastructure, to start with, for the manufacturing hubs will immensely help boost the sector and its global impact.
This story is from the January 2023 edition of EM - Efficient Manufacturing.
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This story is from the January 2023 edition of EM - Efficient Manufacturing.
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