India is the only country in the world, which can take on China in the manufacturing sector, provided there is a change in priorities and mindset in the Government and industry. According to a PTI report, these remarks were made by noted NRI industrialist, Lord Swraj Paul.
Though the manufacturing sector has been ignored for many years, "there is a change now and there is a big realisation that if any country in the world can take on China in the manufacturing sector, it is India," Lord Paul, who is also British Ambassador for Overseas Business, told a BBC Hindi Programme last night.
"A developed manufacturing sector is the strength of any country's progress as it is the only sector which provides regular jobs for the work-force," he said. Lord Paul said, "All other sectors including the IT do not provide stable and permanent jobs. The example of China is there for all to see how a strong manufacturing sector has taken the country on the path of solid progress. In India, he said, "the manufacturing sector is beginning to get attention now."
Describing how the industrial scenario in India has changed during the last few years, he said: "We had set up a single automobile parts plant in India in 1994. For some years it was functioning merely normal.
During the past three years, our turnover has increased from Rs 60 crores to Rs 300 crores. During the next two-three years we are aiming at a turnover of Rs 1,200 crores. We are now setting up ten to twelve plants in India simultaneously."
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