India needs to create islands of excellence in infrastructure to create new jobs and single point clearances in the industrial parks should become a reality to attract investment said Ajay Shankar, Member Secretary, National Manufacturing Competitiveness Council (NMCC) while speaking at the thirteenth Manufacturing Summit organised by the Confederation of Indian Industry in Mumbai.
“Infrastructure and logistics should be the key. There is positive expectation with Delhi Mumbai Industrial Corridor (DMIC) creating interlinked new industrial townships and parks,” Mr Shankar said.
He said labour reforms seemed to have a strong consensus as it was unavoidable. “Tough times of 13 to14 per cent manufacturing growth witnessed modest job creation in the economy. India needs to move beyond ease of doing business, though the cost is high there is a need to see where we can improve our cost advantage, and achieving new cost advantages, which would mean revisiting the old axiom of scare resource auction and price maximization,” he added.
Mr Shankar said that focus must be laid on new areas like ship building and electronics. India has an ecosystem for advance manufacturing start-ups which need to be fostered for leap forward in advance manufacturing, he added.
Jamshyd N Godrej, Chairman & Managing Director, Godrej & Boyce Mfg Co and Summit Chairman said that the government must make a significant difference in the competitiveness position of manufacturing in India.
“Ease of doing business is one of the critical aspects, with India ranking quite low in the global rankings which needs a focused approach for further development,” Mr Godrej said.
