What is the impact of the ‘Make in India’ initiative on the Indian manufacturing sector? What are the major changes witnessed last year?
Make in India’ is a perfect ‘statement of intent’ for our country with such a favourable demographic and demand mix, but it will be a result of many policy changes, process changes and culture changes that has to happen in the background, from the government and the industry community.
The government has made a lot of progress in the last 3 quarters in developing new policies, revisiting and improving the old policies, aligning various stake holders, etc. I think we are on the right track. This is the best chance for our country to make it happen and take a giant leap forward.
Brief us on the major trends in the upcoming years, in terms of technology development, advaced manufacturing technology adoption, product lifecycle, collaborative manufacturing, etc.
Product redundancy will be faster than we have ever seen. Successful companies will innovate collaborative approaches to develop products and solutions faster. These collaborative efforts will happen between the various functions within organisations to develop error-free products at a faster pace. This is not new, but we believe that this will become the key to product development in recent times with extensive use of technology.
How do you plan to align your company’s Vision 2020 strategy with these trends?
The key drivers for us are solutions and technology, which will further help the customer. A significant part of our business is from solutions. We are, thus, looking at offering a complete solution to our customer to address their needs.
What would be your recommendations on achieving manufacturing excellence and sustaining the growth momentum in today’s uncertain market conditions?
There are two key focus areas for the companies—be simple & agile and innovative. We are trying to make the organisational processes simple, be closer to the customer and understand their implied needs and use more and more of technology across the organisation to improve productivity and deskill processes.