The Government of India adopts a comprehensive approach to development, carefully identifying projects, infrastructure needs, and other essential factors while developing the industrial corridors- Mr Rajat Kumar Saini, CEO & MD, National Industrial Corridor Development and Implementation Trust (NICDIT).
“Improving infrastructure and creating the right incentive structures are crucial to enhancing global competitiveness. This involves developing world-class physical infrastructure, such as roads, ports, and logistics networks, to facilitate efficient and cost-effective movement of goods and services.” said Mr Rajat Kumar Saini, CEO & MD, National Industrial Corridor Development and Implementation Trust (NICDIT). He was addressing the National Manufacturing Summit 2024 organized by the Confederation of Indian Industry (CII) in New Delhi. The theme of the Summit was “Indian Manufacturing @ 2047: Revolutionizing the Next Frontier”.
He also said, “The Government of India adopts a comprehensive approach to development, carefully identifying projects, infrastructure needs, and other essential factors. For instance, the Delhi-Mumbai Industrial Corridor spans across five states and approximately 90 districts, while the Amritsar-Kolkata Industrial Corridor covers seven to eight states and 213 districts, home to around 40% of India's population. This planning process involves extensive stakeholder consultation, incorporating input from various sectors, including bureaucratic, political, economic, industrial, and multilateral stakeholders”
While addressing the special session on Furniture Manufacturing, Mr Sanjiv, Joint Secretary, DPIIT said “the Government of India, through the SCALE Committee, has identified furniture and allied products as one of the four sunrise industries to focus on, with a roadmap to make these industries global champions”
Speaking on the startup ecosystem in the country, the Joint Secretary said that in developed nations, startups are driven by corporate houses, but in India, the ecosystem is primarily driven by academia. He emphasised that corporate houses should take a more active role in supporting and investing in startups. He further added that “Startups need more than just funding; they require mentorship, access to labs, and go-to-market strategies. Corporate houses must see this as an opportunity to drive innovation, improve productivity, and eventually enhance their own production lines."
Mr. Deepak Shetty, Chairman, CII Council on Manufacturing Excellence, and CEO & Managing Director, JCB India Ltd said “India is no longer just a low-cost manufacturing destination. With a robust technology base and a large pool of skilled professionals, we are emerging as leaders in high-value manufacturing sectors, capable of delivering global-quality products and leveraging our domestic volumes for international success”.
He also said that the Indian manufacturing industry has the potential to contribute 25% to the GDP and create 100 million new jobs in the next 15 years. Every job created in manufacturing has a multiplier effect, generating two to three additional jobs in the services sector, making it a critical driver of inclusive growth.
Mr. Deepak Jain, Co-Chairman, CII Council on Manufacturing Excellence, and Chairman, Lumax Group said that the uture of Indian manufacturing lies in embracing sustainability, technology, and global competitiveness. By staying future-smart, we can meet the aspirations of a growing domestic economy while establishing India as a leader in global supply chains. He also said "India is poised to grow at 7%, presenting manufacturers with a dual challenge: producing for domestic growth while creating capacities to serve global markets. The balance between these priorities will determine the trajectory of Indian manufacturing
.The summit also saw the launch of two significant reports:
1. Future Momentum : Technology’s Role in Indian’s Manufacturing Transformation
2. Raising the Standard : Quality Transformation in Indian Manufacturing’
29 November 2024
New Delhi