Frost & Sullivan Knowledge Partnering with Messe Frankfurt at the SPS Automation India Seminar launched its Whitepaper titled Enhancing India’s Manufacturing Competitiveness - Reality of Adopting Technologies and Trends at the conference held on 6th February. In line with the new Government’s initiative this Whitepaper shows that the per capita expenditure is expected to witness a growth northward of 25 percent over the next 3-5 years. This increase is a firm indication of the potential demand for goods and services which in turn will drive the manufacturing renaissance.
India, unshackling itself from the economic downturn contributed by global economic conditions as well as lack of initiatives on the domestic front, is back on its upward journey. An atmosphere of legislative, administrative and bureaucratic paralysis has given way to a pro-active public culture of accomplishment and accountability that is spurring economic revival.
"Mr. Aroop Zutshi, Global President and Managing Partner, leading Frost & Sullivan's Knowledge Partner Delegation for SPS Automation India event said “The goal of achieving 25 percent contribution from the manufacturing sector will be possible through a combination of proactive policies, investment and drive towards greater value addition within India. The ‘Make in India’ initiative will also imbibe a character of smart manufacturing which will ensure greater adoption of automation and world class manufacturing practices”.
The easing of global commodity prices has also alleviated inflationary pressures. But most importantly, the economy seems to have bottomed out with GDP growing at above 5 percent for three consecutive quarters. Indications of green shoots arising from better consumer and business sentiments signal even better times to come. It is quite likely that in a few years’ time, 2014 will be marked as the landmark year when Indian economy began to take a definite turn for the better.
Automation as a Change Enabler in the Indian Manufacturing Sector
In order to position our nation as a global manufacturing powerhouse and compete with large economies, the key focus for the industrial sector is expected to move towards improving operational excellence. This urgency is compounded by the increasing pace of globalization, which calls for manufacturing practices to follow standard processes. Compelled by the continuous pressure on profitability improvement, manufacturers are looking to invest in solutions which will help them increase their productivity by utilizing minimal assets, in turn focussing on improving return on investment (ROI), increasing reliability, and efficiency.
The Indian manufacturing sector is on the verge of scripting a new chapter for itself and become the key enabler for India to assume its role as the global manufacturing hub. Current political stability, renewed interest among global investors and new age policies has led to the reaffirmation of the potential of the manufacturing sector. While the growth of the manufacturing sector takes place, the paradigm change that is expected to be ushered in will be the induction of global manufacturing practices on large scale. Traditional methods of manufacturing will pave the way for technology driven practices based on convergence of ICT, automation and management models.
This White paper is part of the Industrial Automation & Process Control Practice which spans a broad range of industries (from automotive to oil and gas), and technological expertise must be blended with industry-specific knowledge. Frost & Sullivan’s global team of industry-diverse analysts and our comprehensive 360° growth perspective complement our Industrial Automation & Process Control services, providing our clients with uniquely powerful, in-depth market analyses on industry convergence trends. To know more about this Whitepaper write to Ravinder Kaur, Corporate Communications @ ravinder.kaur@frost.com with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
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