29 September, 2020

Remaking 'Made In India'

The metamorphosis in manufacturing is near-total; we are now in the global game

Jitender Gupta
Remaking 'Made In India'
outlookindia.com
-0001-11-30T00:00:00+05:53
Of all the sectors of the economy, Indian manufacturing has probably come the longest way today from the contrived system that prevailed up to the beginning of the nineties. At that time, an Indian manufacturer of engineering goods would have found it difficult, if not impossible, to become a major supplier to any marquee global customer. The reasons were: negative perceptions of international customers due to the country's poor image, inadequate infrastructure, red tape with interminable delays, and a track record of making shoddy products.

With liberalisation, Indian industry gained international exposure because of which it became imperative for companies to rework their strategies to become globally competitive. Over the years, many companies underwent comprehensive restructuring that involved massive cost rationalisation, shedding of unprofitable businesses, initiatives to improve efficiencies in areas of operations, technology and product development and unlocking human resource capabilities to effect productivity improvements. The result is that there are now a large...
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