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A Resurgent India to be driven by Manufacturing and Logistics Print E-mail
Written by George   
Tuesday, 09 December 2008

India Manufacturing Excellence Awards (IMEA) 2008

Bangalore: Frost & Sullivan hosted a panel discussion titled  "A Resurgent India – To be driven by Manufacturing and Logistics?" during the "India Manufacturing Summit" in Bangalore. The panelists for the session were stalwarts of Indian Manufacturing Industry who have contributed considerably to industrial growth.

Speaking about the roadmap ahead for manufacturing, Anand Rangachary, MD, Frost & Sullivan said "Manufacturing is, no doubt, going to be a key driver industry in the coming years of the Indian economy."

Frost & Sullivan hosted a panel discussion titled  "A Resurgent India – To be driven by Manufacturing and Logistics?""2008, though, has seen a drop due to global factors which has affected all sectors, including manufacturing. The momentum of the developments in the infrastructural capacities has to be ensured as this will help the sector to cash in on its growth in the future," he added.

Improved employee morale, training and skill build up will help companies to achieve the extra level of productivity and quality to be globally competitive said Vikram Kirloskar. Companies with not enough work and more time on hand now should utilize it to make themselves more competitive.

S.M.Trehan, MD of Cropton Greeves felt that the knowledge level of Indian Engineers is high and companies should utilize them more by pursuing R&D efforts to develop new and improved products. If companies focus only on lower cost of production, they may lose out in a price war with bigger players.

Benchmarking with the best in the world, reducing cost of production and communicating with the employees to keep their morale up is the need of the hour said Dilip Oommen, CEO, Essar Steel.

C.Narasimhan, Ex-President of Sundaram Clayton advised companies to adopt Lean Manufacturing. He said there is tremendous scope for improvement in SMEs and called for a mindset change to focus on cost reduction, continuous improvements in products and process and improvement in employee morale.

Dr.N.Ravichandran, CEO, Lucas TVS said the greatest advantage Indian companies have is the continuous management leadership, exposure to Japanese Manufacturing Technologies and excellent design engineers. In a down turn the first step should not be laying off employees but get the best out of them by using the right managerial skills, communicating with them and utilizing the collective brain power.

The panel was of the opinion that the current slow down will not last long in India and the country will bounce back within 6 months to one years time. More than anything else it is the sentiment that is holding us back.

None of the financial mess that affected US and other countries happened in India as our financial system is strong and the impact of global factors on the Indian economy will be limited.

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