Posted By Paul Tate, June 25, 2011 at 2:31 AM, in Category: Global Value Networks
Baba Kalyani, the Indian industrialist known as India’s ‘Mr Manufacturing’, and chairman of global metal forging group Bharat Forge, has called for significant game-changing investments in key industry sectors if the country is going to continue to grow and remain globally competitive.
Speaking at the Annual General Meeting of Indian Merchants’ Chamber in Mumbai, Kalyani said that a paradigm shift in India’s investment focus is critical for the future of its manufacturing community.
Citing China’s strong investment focus on infrastructure and leading edge technologies such as biotech, he identified a number of key target areasfor Indian development:
- Manufacture of defense equipment to make India self-sufficient and reduce its heavy dependence on imports.
- Manufacture of capital goods and infrastructure equipment in aerospace, railways, marine, and the oil & gas industries
- The development of hybrid technology solutions and alternative fuels for automobiles and other transport systems to reduce dependence on imported oil
This, predicted Kalyani, could help Indian economic growth rates rise to 10 per cent a year over the next decade.
Do you think a new manufacturing investment focus can help India achieve such high growth rates inthe future?
What key sectors do you think offer most potential for India’s manufacturing future?
Also see the exclusive Manufacturing Executive Dialogue interview with Baba Kalyani: (Forging India’s Future - Dialogue: Forging India’s Manufacturing Future).
Written by Paul Tate
Paul Tate is Research Director and Executive Editor with Frost & Sullivan's Manufacturing Leadership Council. He also directs the Manufacturing Leadership Council's Board of Governors, the Council's annual Critical Issues Agenda, and the Manufacturing Leadership Research Panel. Follow us on Twitter: @MfgExecutive