Industry & Economy
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Economy
Manufacturing sector gets a `thumbs up'
Our Bureau
New Delhi
,
Dec. 6
INDIA'S attractiveness as a manufacturing destination received the "thumbs up" sign from industry captains at the ongoing India Economic Summit here on Monday.
Despite being plagued with enormous infrastructural and social hurdles, Indian companies have specific areas of strength and these need to be exploited.
Mr Gautam Thapar, Vice-Chairman and Managing Director, Ballarpur Industries Ltd (BILT) said, "The strengths of India in skill-based manufacturing are still not positioned correctly; while China is catching up with India in services, India is not doing the same in terms of manufacturing."
The CMD of Bharat Forge, Mr Baba N. Kalyani, said India's niche was in areas where engineering, information technology and related skills are critical inputs in the manufacturing process.
Mr Karan F. Billimoria, CEO of Cobra Beer Ltd of the UK, said India's strength lies in innovation and research and development because of low-cost employment. However, he listed inflexible labour laws, government interference in some sectors, poor packaging quality and general low productivity as bottlenecks to growth.
The Managing Director of AT Kearney in India, Mr Vivek R. Gupta, described the emerging success story of the Indian automotive sector as an example to bring out the key success factors and impediments.
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