The Manufacturing sector will have to be made fashionable for youths, to ensure consistent high growth rate of Indian economy, Amitabh Kant, Secretary of Industrial Policy and Promotion, said here on Friday. He was talking at the inauguration of JCB's largest facility in India built at an investment of Rs. 500 crore. The two plants in the facility were inaugurated by Rajasthan Chief Minister Vasundhara Raje and JCB Group chairperson Lord Bamford.
“Manufacturing, and not service sector, will have to be the key factor of growth. To create jobs for our young, the key challenge is to grow at 9 to 10 per cent consistently for three decades or more. This means we will have to attain manufacturing rate of 13 to 14 per cent. For this, manufacturing will have to be made fashionable for young Indians,” Mr. Kant said, adding that he was confident Mr. Bamford will make manufacturing fashionable in India.
He said that the company will have a huge market in the rapidly urbanising scenario in the country. “India will see unprecedented urbanisation in the coming three decades. Construction will be the highest in 5000 years. There is a need for good, scientific construction in compressed manner,” he said.
The construction sector is expected to attract huge Foreign Direct Investment (FDI) in coming future.
Mr. Bamford unveiled the 2,00,000th JCB machine manufactured in India, on this occasion. He declared that the company has introduced load-on machine, which is a new technology for the country.
“The pride I feel today is immense as two new factories have been inaugurated at the same time. This is overwhelming,” he said. JCB had entered the Indian market in 1979.
The Jaipur facility is now the largest in the country. The two factories constructed on one million square feet land, are spread over 115 acres land. At present, 160 persons have been employed in the factories, but the total employment capacity can be expanded to 1000.
Speaking on the occasion, Rajasthan Chief Minister Ms. Raje said the government had the challenge of creating 15 lakh employment opportunities for the youths in five years. “Our government plans to make it easy for people to bring business here. We are in the process of improving skills on shop floor. Our skilled people will match stride as you grow here,” she said.
British High Commissioner to India Sir James Bevan said United Kingdom agreed with Prime Minister Narendra Modi's vision of 'Make in India and sell in other countries'. “JCB is making in India and making India. UK companies are the largest single companies investing in India. India needs infrastructure and U.K. companies are brilliant in creating infrastructure. U.K. is a friend India needs,” he said.
Industrialist Adi Godrej, Union Minister of State Rajyavardhan Rathore, JCB Group CEO Graeme Macdonald, JCB India MD and CEO Vipin Sondhi, were some of the dignitaries present for the inauguration.
