Given the potential of India becoming a global manufacturing hub, how is SolutionBuggy contributing to industry upliftment?
Our AI-based platform enables industries & consultants to collaborate on projects. We have successfully completed more than 2,500+ consulting projects and mapped 10,000+ experts across various industries throughout India. Manufacturing sector is one of the major contributors to the Indian GDP. In terms of percentage contribution, manufacturing accounts for around 30% of the total GDP, which is pegged at around $3 trillion.
In terms of numbers, the size of the manufacturing sector in India is approximately $900 billion. Any uptick in the manufacturing sector bodes well for the agriculture and service sectors too, thanks to the multiplier impact activities in the manufacturing sector on the primary & tertiary sectors. Furthermore, given that India has the potential to become a global manufacturing hub, contributing $500 billion to the global economy by 2030; manufacturing ranks high among the three sectors of the Indian economy.
How does SolutionBuggy address industry challenges?
For start-ups, we have a special acceleration and handholding programme with which we support them in scaling up and mentor them throughout their entire journey. With our dedicated project management module and network of expert consultants, we assist the manufacturing industry in addressing technical and business challenges. We also assist new entrepreneurs who want to enter the manufacturing industry by overseeing the entire project’s execution. The primary idea behind the platform is to help MSMEs connect with the right experts to address challenges in the manufacturing sector. We also added a slew of new features to the platform in response to customer feedback.
Today many entrepreneurs are sceptical about which sector to enter, considering the availability of a wide range of options. At SolutionBuggy, we help entrepreneurs select the industry to enter and the product to be manufactured. We have also raised a 2-crore investment. The funding will be used mainly for improving the AI platform & reduce human dependence by almost 30% in the sales & project matching cycle.
How do you overview the industry landscape post-pandemic?
Post-pandemic, many niche sectors with innovative products have come to the forefront. The growing awareness towards health led to the growth sectors like nutraceutical foods, millet-based foods, etc. Supply chain disruptions due to lockdowns in China and rising anti-China sentiments made India minimise overdependence on imports from China, giving rise to electronics manufacturing, API manufacturing, toy manufacturing, etc. Accordingly, the Government of India is also promoting domestic manufacturing through initiatives like Aatmanirbhar Bharat.
Going forward, how much growth are you projecting in the coming years?
We have reached 60,000+ industries, 10,000+ experts and completed 2,500+ projects in a span of five years. We are working with clients from various sectors including MNCs, Big4 consulting, start-ups, and boutique consulting firms. During COVID, we have had 7.5X growth in the last 2 years. We see a vast potential for the MSMEs in the manufacturing segment, so we propose to grow at 10X year-on -year.