Focus on innovation

By admin June 26, 2014 5:56 am IST

By focusing on innovating newer products for world and India consumption, a fundamental shift in the coming decade could be observed which can put India in top league
 Breakthrough Management Group International (BMGI) helps companies achieve their dreams by enabling them to effectively meet short-term goals. At the same time it helps them build the competencies and capabilities to fulfil their long-term company vision. Naresh Raisinghani shares his views on establishing India as a manufacturing hub.
Make presence feltIndia has awakened to the reality that its manufacturing sector’s contribution is about 16 per cent only to the GDP and that all major countries who have experienced significant development have the same as 25-35 per cent to their GDP.
India has proven itself in recent times as a reliable and world class producer in selected areas such as auto components, high tech engineering, mobile electronics, generics in pharma and textiles. However, now it needs to broad base itself and make its presence significantly felt in other manufacturing areas.
Exports would definitely integrate India on the global scale as well as a manufacturing hub. However, India should continue a relentless focus on encouraging well established and global leading manufacturing firms to set up shop in India. That will, in turn, provide a market to rapidly fill the technology gaps with developed nations.

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