Manufacturing industry has inevitably played a key role in the economic growth and development of all developed and developing nations. Considering India which is a developing country, it has emerged as one of the fastest growing economies. However, the only point to analyse is that- “Is this a planned growth? Or growth by situational opportunity? “
There has been a drastic paradigm shift observably in the recent years within the technology and manufacturing process especially after the 2019 pandemic. The repositioning has taken place extensively with improved and easy accessibility compared to the last decade along with the concept, design, machines, software, methods, time span, cost involved and several other factors involved with this industry.
A significant growth has been noticed in the recent years of the manufacturing industry with respect of its output and transportation considering its locations across boundaries without any unforeseen circumstances. Proposed schemes and projects by the government to promote and improve the competitiveness of Indian manufacturing organisations are resulting into several start-ups within the nation.
However, the industry requires a continuous attention and improvement on areas such as, education system which can support the manufacturing industry, appropriate internship for hands on experience for the students, employment in right industry, scope of start-ups to support anchor industries.
Along with it, there have been several crucial requirements including additional industrial ecosystem with all physical and essential sanctions of electricity, water and infrastructure where entrepreneurs can focus on their products with the desired output.
Developments in any sector have to go through several twist and turns in the beginning before its gets streamlined. Similarly, manufacturing industry is not an exception. Change is the only thing constant, but the adaptability for change in our manufacturing industries is not as quick as it should be.
The industry is blessed with several opportunities and benefits which were earlier unattained. As, the technology has taken a supreme shift, communication technology is almost eliminating the requirement of physical presence. World is looking at India as a reliable supplier for innumerable sectors and our rising generation has become a trump card for our industry.
There are so many new developments witnessed in Indian manufacturing industry that the quality, time and cost can be matched with any manufacturer of the world, but my observation is that there is a need of a knowledge pool or association wherein the practical pain areas can be addressed.
Experienced people must support and advise the industry, by sharing their problem solving experience so that same problem will not be faced by industry associates. This will help focusing on new development and collectively manufacturing industry will grow.