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India now part of global value and supply chains, says CII chief Indian Manufacturing
Image credit: PIB

India now part of global value and supply chains, says CII chief

India Blooms News Service | @indiablooms | 18 Apr 2024, 12:14 pm

The biggest game changer in India in the past years has been the steps taken by the government to ensure that the nation is part of the  global value chains and supply chains, according to a top industry body official.

R Dinesh, President of Confederation of Indian Industry (CII) and Executive Chairman of TVS Supply Chain Solutions, has praised the Indian government over the changes it made in the past few years and said the biggest game changer has been the steps taken to ensure the nation becomes integrated into global value chains and supply chains.

He told The Hindu Business Line: "If you look at the India context of manufacturing, I think we have done very well. Manufacturing is an important focus area for everyone. I don’t like to give scores. I would put it as a high level of achievement and visibility has happened."

"I don’t want to put any score to it .We have done very well in terms of not just focusing on manufacturing, but taking steps to ensure India becomes integrated into global value chains and supply chains," he said.

He said the biggest difference is India is becoming visible for global manufacturing and building capacity and capability in various areas. 

"For me it is the coming of age of manufacturing from the Indian context which has made the difference," he said.

Praising the Narendra Modi-led government's Atmanirbhar (self-reliance) initiative, he said: "First the focus was on Atmanirbhar -- it is not just about being self-reliant but it is building capacity to manufacture for the world. It has been well understood across the world that Atmanirbhar is not about protectionism but about building scale for making a big difference when it comes to the manufacturing sector. I would also say that focus on the cost of doing business has been a big initiative."

He said: "It is a combination of the big cultural change of Aatmanirbhar coupled with cost of doing business and finally now in later part of year there is specific focus on targeted areas through PLI scheme and this support has placed India clearly as the destination of choice. People are coming to India for the domestic market."

He said: "When they come in and they see India is cost competitive, they start using India as a global hub. That is what has made the change from a manufacturing perspective."

Speaking on the unfinished agenda on manufacturing, R Dinesh told the Indian newspaper: "If I step back and look at it, the major steps have been taken at the central level and States too are looking at attracting investments. To me, further enhancing the reform agenda for supporting manufacturing is going to be land and labour -- this should also mean that States and Centre are really coming together and looking at this as a huge opportunity to create a paradigm shift in manufacturing."

"I would call it more a continued focus and building a consensus from the States side to ensure that everybody is together from an approach perspective. Improving the cost of doing business is always a moving target. Here the benchmark is various Asian countries," he said.

It is noteworthy that in the past years and despite a raging pandemic, India has emerged from a market for global sellers to a manufacturing hub.

"The demand for Indian goods has increased at the global stage," the Prime Minister said.

According to media reports, Tata Group, the first domestic iPhone manufacturer in India,  plans to build a second assembly plant near Bangalore. The facility in Karnataka will have around 20 assembly lines and provide employment for 50,000 people, according to a Times of India report.

Stefan Reidy, CEO and Entrepreneur, Supply Chain Management, said in an article: "India is one of the fastest-growing economies in the world. Boasting a robust economy and favorable demographics, it's no wonder many international companies are eyeing India as a prime location to set up their manufacturing facilities and supply chains. As this trend continues, the demand for supply chain management in India is expected to soar."

"The Indian government is leaving no stone unturned in its efforts to create a world-class supply chain ecosystem. To achieve this, the government has been taking bold steps, such as improving transportation infrastructure, including roads and ports, to make the movement of goods and services more efficient. They are also creating an enabling environment for companies to invest in technology and innovation to build their own logistics network or partner with third parties who can provide value-added services like supply chain consulting and inventory management solutions," he said.

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