Warwick Manufacturing Group advocates Made by India in place of Make in India
The ambitious Make in India programme of the Centre should be substituted by Made by India courtesy greater emphasis on indigenous technologies and innovation for economic growth.
Lord Kumar Bhattacharya, the Warwick Manufacturing Group Chairman, called for Made by India instead of Make in India, the Centre’s ambitious programme. He called for greater focus on indigenous technologies in manufacturing and innovation. The country should witness economic resurgence through innovation and China should not be underestimated.
Indian industrialists should be investing in R&D and technology for creating a niche in global markets. Global innovation partnerships should also be encouraged in several sectors for creating top notch products. India is definitely the fastest growing economy across the globe but the BRICS is breaking down according to him. China’s recent growth and shift from the culture of imitation should guide India’s strategy in terms of manufacturing and automobile production among other segments.
Amitabh Kant, the Department of Industrial Policy & Promotion Secretary, sought to enter into a partnership with Bhattacharya for taking forward the manufacturing sector in the country. According to Sudarshan Venu, TVS Motor Company’s Joint Managing Director, the passenger vehicle companies worldwide are now leveraging advantages offered by manufacturing units and hubs in India. According to him, the manufacturing sector should contribute a whopping 25% to the GDP of India and create 80 million jobs by 2025. Automobile manufacturing should definitely be a vital part of India’s manufacturing progress and economic resurgence according to him.