‘Manufacturing industry boosting our country’

‘Manufacturing industry boosting our country’


Currently Live: https://www.techzilo.com/growth-of-manufacturing-industry-in-india/

India has always been a competitive and hard-working country from the colonial period. Moreover, India has proved the desire of being an independent and competitive and profit-making country from that time. Amongst the entire developing counties, India considered being the fastest growing and developing country after Chine and this could not possible without the convergence of resources, human intelligence and government initiatives. Industries have commendably grown from the ashes by optimally utilizing the limited resource and human intelligence, however, the country is still facing many ups and down in GDP, and the economy seems to remain fluctuating day-by-day.

Over the years, the country has successfully shown the progress in various fields of science & technology by the time of rising pace of globalization. In India, the technical talent has been recognized by the world within the phase of globalization by which the country received the second rank in the 'Global Manufacturing Competitive Index’ during the year of 2010.

Major manufacturing industries contributing to GDP:

• Oil and Natural Gas industry
• Textile industry
• Automobile industry
• Cement industry
• Iron and Steel industry
• Electronics & Hardware industry
• Pharmaceutical industry
• Aviation industry
• Real Estate Industry, and
• Bio-Technological industry

Besides running forward inside the business world, the country has faced many setbacks due to growing population and frequent changes in government policies on import and export, environment concern and many others. On the other side, due to the increasing population in India, manufacturers get the opportunity to rise in their product supply. We can’t ignore the fact the role of modernization and globalization critically played to increase in product demand. Media, advertisements, newspapers, radio, social media are the major facilitators of manufacturers to grow their business in India and passed the information to the Indian audience. For instance, keypad mobile phones were brutally replaced by the smart-phone companies of China like Samsung, Redmi, Lava, Oppo, etc and took place in the country with the largest market supply range.

It has been observed a drastic change in the interest of cars simultaneously shifting to smart-phones among the Indian population. Therefore, companies like Hyundai, Maruti Suzuki and Honda were estimated the most products selling companies and have the most manufacturing units in India. This is very evident in the collaboration of multi-national companies in India.

Role of science and technology sector in India

Electronics and Hardware Sector: In India, electronics and hardware industry plays a very crucial role in the uplifting of the society and development of the IT sector. Why do they play an important role? Because electronics and hardware consider being the most important components of various industrial sectors as we are surrounded by electronic appliances like a geyser, irons, heaters, chargers, and many more which boosts the small manufacturing units in India.

Information Technology sector: After the launch of ‘Digital India’ campaign, it has become more necessary to use ICTs based product to encourage digital India program. Nowadays, ICTs are used in every sector like education, college, schools, agriculture, corporate, health sector, and many others. Even, many engineers have got a good opportunity to work in this field and utilized their skills and knowledge, before ICTs accountability were less, records consumed time and many mediators were there. Hence, it results in a boon for the development of our country.

Telecommunication sector: This is the only sector came by the colonial period, however, the connectivity was limited but gradually it has proved to be the huge market in every county. From the time of wire telephones now we have wireless mobile phone which sets us free. Now we get any type of information in just one click and imagine how beautiful our life has changed and now we don’t depend on heavy bills and wire connectivity.

Automobiles sector: Remember the time when we used to watch movie hero with a car giving the shiver of pride and you desire to buy such car for you and your family but because the car was a symbol of luxury and only rich people could buy. But, now we have multiple cars designs at a different range of every class shows the product never discriminated the audience but company and market does. It was estimated that in the year 2006-07, the automobile industry produced 9 million two and three-wheelers and 2.06 million four-wheeler automobile in India. Therefore, India now considers being the most selling and buying country of cars and now we have scooter/bikes, cars, automatic cars, which are male/female-friendly.

Bio-Technological Sector: This sector is the amalgamation of technology & science related to the field of biology. This sector includes several fields such as bio-agriculture, bio-pharmaceuticals and bio-fuels, etc. The need for this sector has increased in India for treatments and developing tools for operations.

Gradually, India has known as one of the favourite destinations with the central hub of the electronics and hardware. The growth in electronic industries seems to have a favourable condition. Not ignoring the fact that many government policies facilitate the market of electronics and hardware industry for the growth in India. Favourable policies like foreign company’s partnership, import and export, taxes, encourage the big tycoons to invest in the companies.

With this, India projected the mass production last year worth $ 155 billion which was like a boon in the industry and that generated the immense opportunities for much more electronic manufacturing industries.

Advantages of electronics and hardware sector in India

Let’s discuss the advantages of having technology-based industries in India.

• Low cost: Many multinational companies provide semiconductors for manufacture for the fast growth of the electronic-based markets in India. Therefore, many companies claim that India has the only country consisting of potential power to become the electronics and hardware favourable destination in the world.
• Taxes and duties: Implied taxes and duties in India are estimated to be low and reasonable for big brand electronics companies to deliver their product in India. However, for a new business or small start-up companies may face the burden of taxes and import and export charges.
• Affordable Capital: Many companies of big manufacturing Industries believe that India has the cheapest resources in terms of land, raw materials and labour, and therefore their demand working with Indian companies are much more than working with others.

Importance of the growth of the manufacturing sector 

Expanding in the manufacturing sector accelerated an economy flow in the nation every year, because of educational enhancement and employment opportunities for them as it has mentioned by the economist that in India minimum of 7-8 million job opportunities must be generated and jobs in the manufacturing the field considers being perfect and profit-making in India.

Global achievements of the manufacturing industry

India has a commendable journey as emerging a global manufacturing hub and successfully now we have majorly installed manufacturing plants of multinational companies and brands working in advance technology. Such as Nissan Motor, as the company invested in our country and gained $10 million in around 2010 and increased by $40 million in almost 2012. Commercial Vehicles (VECV) invested $61.9 million for the production of Volvo's engine. Hyundai’s “i10” is the second largest manufacturing model in India and Tata Motors (TATA Nano) is the world’s cheapest car in the world produced by the Indian company. As a Chinese company like Nokia, LG, Samsung have made their place in every people’s heart. On the other hand, there is a manufacturing unit like computers or IT systems and hardware market is the fastest-growing unit in India and Communication and Broadcasting Company (CBC) turned-out to be the largest DTH market by 2012 in India.

Technological competitiveness managed by policies

To boost the competition in India, the government implied an import strategy to retain its self-reliance in the market which is known as Import Substitution. On the other hand, Human Resource Development and Technology Infrastructure refers as an investment in infrastructure for multiple activities like education (both academic and practical), research and development (academic, practical, product, process and input material related), observing of information services, and provision of services like testing & inspection etc. to strengthen the manufacturing future. 

Industrial enterprises of the public sector are important to finance and coordinate for the requisite level of technological activity and that is why the direct intervention of public sector enterprises encouraged. Besides, standardization on power equipment, fertilizers, plus petroleum refining has served fast absorption and dominance of technologies set by the government. India requires probing limitations on technology development as a vital role in its overall policy for advancing competitiveness in the manufacturing sector. Involvement of government's role in improving 'technological competitiveness' is important for better outcomes.

The government sustained Indian manufacturing Industry

As we have discussed the importance of manufacturing unit to generate professional career opportunity and to meet the demand of the country, and government in that regard launched the various program to sustain the manufacturing mass in the country. And 'Make in India program' is one of the government initiatives launched to strengthen the manufacturing structure of technology-based products in India. Mobile manufacturing program launched known as ‘The Phased Manufacturing Program (PMP)’ elevated through financial incentives. By 2018, Imports of electronic products or appliances had successfully become the second-largest mobile phone manufacturer after China in India. ‘Make in India’ campaign started to use skilled labour and educated people to employ the needy ones.

National Policy on Electronics

In India, the government has launched 'National Policy on Electronics program' in 2012 to propose it as investor-friendly and market-driven and ideal to invite global and national companies in India to spend in ESDM sector (Electronics System Design & Manufacturing). The scheme introduced to encourage and assist the proficient manufacturing groups to use efficient ICT tools and appliances in their production and business, and therefore 'Digital India Campaign' started to enhance their production and competition between national and international markets to fulfil the demand for goods, however, the scheme cost of a total budget of approximately 105crores throughout 11th Plan till now.

Challenges:

For a developing country like India, it is very challenging to function without any barriers for example poor road connectivity, the improper infrastructure of air/sea-ports and malfunctioning of staff. These are the major causes by which companies face issues in import and export of goods. Sometimes consumer face losses of product or broken materials and due to inadequate skills and lack of literacy, Indian labour/staff considered to be the cheapest labour, therefore, many times the delivery of the products do not match the client’s requirements. Lack of awareness is also one of the most challenging factors to accelerate the product demand as we know about the cut-throat competition in the market in every field; therefore, product visibility and its demand are as important as manufacturing the quality of the product.

Overcoming the Challenges:

To overcome the challenges many public and private sectors are coming out from their shell to facilitate the manufacturing unit in India for better growth. Government is rigorously working on imparting skills and education and also creating a physical unit by cutting and installing warehouses, storages, sea and airport to prevent the product from any damages; therefore, freight movement has started for the betterment of road and rail transport. To increase the visibility of the product among the target audience, media and advertisements play a vital role to increase in demand. Even if it’s about a smart-phone or smart-cities, we majorly influence by advertisement and therefore investing in advertisement plans helps to overcome the challenges.

Hence, the journey of the Indian economy is very evident to showcase many ups and downs, struggles, hard-work, human intelligence, resource management, and government's interest to make the country popular after the dark period of colonial times. We Indian have learned from the era to rule over to achieve the profit and here we are with the title of the second top-most country in the world in the manufacturing world. Science and Technology have made our day-to-day struggle easier to travel one place to another or to get any information in just a click. In the future, we believe to be part of more successful technological interventions for fast development of India.