India has emerged as one of the fastest growing economies of the world, however India still needs companies to become engines of manufacturing growth, create products which are really Indian, and go on to become global icons, building the nation’s brand identity.
But the biggest worry is India's manufacturing sector growth has stagnated at about 15-16% of GDP, with India's share in global manufacturing at 1.8% On the other hand Chinas manufacturing sector constitutes 34 percent of GDP and has share 13.7 percent of world manufacturing — up from 2.9 percent in 1991.
Make in India is an ambitious initiative launched by the Government of India in September 2014 with a mission to transform India into a global design and manufacturing hub. India aims to become the top destination for FDI in the world. The Make in India initiative plans to support & increase the contribution of manufacturing to India’s GDP to 25% from current 15% and also generate employment. India aims to increase its competitiveness compared to China which is seen as a more favorable destination for manufacturing. India believes it has a lot of untapped potential in terms of human resource and infrastructure development which, when properly utilized, will propel India into an industrial hub.
This initiative functions and operates at different levels. The government has identified 25 priority sectors that shall be promoted. These industries are identified based on their size and potential growth. The government aims to increase employment and FDI in these industries. In most economic activities in the identified sectors, 100% FDI will be allowed. The business process will be made easier from setting up through production, distribution, and sales. Extended licenses, self-certifications, and reduced compliance requirements will be provided as incentives to encourage production. This will improve the ease of doing business in India. The manufacturing infrastructure and capacity will be developed in large scale to facilitate manufacturers to function efficiently. Five industrial corridors have been identified across the country which will provide a framework of manufacturing and logistics network. The government will continue to provide necessary support and concessions required over a period of time until its vision to convert India into a manufacturing hub and the top FDI destination becomes a reality
However challenges still exist and when it comes to production process, organizations are not able to match up with the requirement. That is where manufacturing excellence comes in. To achieve higher productivity Lead Time reduction and consistency in quality, organisations need to strategise on improving operations, eliminating waste, creating Lean processes and change the way people think, change the paradigm. With the fluctuation in energy costs and currency rates, there has been a shift on cost competitiveness globally. Therefore, it’s vital for organizations to constantly strive for manufacturing excellence.
IndiZen, the 9th National Convention on Operational Excellence is one of its kinds event announced by Kaizen Institute. This event will provide an opportunity to manufacturing professionals, business leaders and industry experts to come together to Learn (via Knowledge Sessions), Share (via National Case Study Competition) and See (via KAIZEN™ Benchmark Tours). So be there to learn and take your manufacturing operations to next level.
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