'Infrastructure key' if the Made In India campaign is to be a success
Speaking at the 13th Manufacturing Summit organized by the Confederation of Indian Industry in Mumbai, Ajay Shankar, Member Secretary, National Manufacturing Competitiveness Council (NMCC) said India needs to create islands of excellence in infrastructure to create new jobs and single point clearances in the industrial parks need to become a reality if the country is going to attract investment.
“Infrastructure and logistics should be the key. There is positive expectation with Delhi Mumbai Industrial Corridor (DMIC) creating interlinked new industrial townships and parks,” he said.
He also emphasised the importance of labour reform, if India is going to be the manufacturing hub it so desires. “Tough times of 13 to 14 percent manufacturing growth witnessed modest job creation in the economy. India needs to move beyond ease of doing business, though the cost is high there is a need to see where we can improve our cost advantage, and achieving new cost advantages,” he said.
The focus must be turned on new areas like ship building and electronics. India has an ecosystem for advance manufacturing start-ups, which need to be fostered for leap forward in advance manufacturing, he added.
Jamshyd N Godrej, chairman and managing director, Godrej & Boyce Mfg Co and Summit Chairman said that the government must make a significant difference in the competitiveness position of manufacturing in India.
“Ease of doing business is one of the critical aspects, with India ranking quite low in the global rankings which needs a focused approach for further development.”