Micro, Small and Medium Enterprises (MSMEs) need to register new ideas of products or manufacturing processes and look at developing these to generate revenue, Aravind S. Bharadwaj, president of SAEIndia and senior vice-president of advanced technology and services (automotive and farm equipment sectors), Mahindra and Mahindra, said here on Friday.
He was speaking on “Gearing up for the knowledge economy” at Global Manufacturing Cluster Vision 2020, organised by TexasVentures as part of INTEC 2015 here on Friday.
“It is extremely critical for industries to focus on capability building and making technologies accessible to all. It will help the units gain competitive advantage,” he said.
India is migrating to an advantage that will come only through knowledge. “Over the last decade, we are seeing a transition to development of products that are made in India for Indian market.” Customers need more features, specifications and technology at affordable price. And, companies have been able to provide it.
In the automobile sector, the country is today a global manufacturing hub for the small cars segment. Life cycle of several products, including automobiles, is reducing as customers want new products and industries need to deliver to meet this expectation.
They need to upscale skills of the employees and have a structure for the process of manufacturing, he said.
