The government's efforts and initiatives, such T as Atmanirbhar Bharat, Power for All, Make in India, and PLI schemes, have given an impetus to investments across various sectors. of the economy and new opportunities are emerging. Further, global companies are adopting the China Plus One strategy to de-risk their supply chains and are considering India as one of the alternatives. This has turned out to be a good opportunity for India as its manufacturing cost is low and the availability of skilled labour is high.
Meanwhile, the results are evident. According to a report by BNP Paribas, in the past 12-18 months, there has been an unprecedented increase in order inflows in the capital goods sector. Order inflows are being driven by the spur in government investments post the pandemic to strengthen the country’s infrastructure and achieve self-reliance in manufacturing and increase technical competence.
This story is from the January 2023 edition of The Machinist.
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This story is from the January 2023 edition of The Machinist.
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