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MSMEs Gear Up; Nothing Can Stop India’s March

Manufacturing will be a critical driver towards realising India’s full socio-economic development potential in the coming years. The sector looks set to boost its share in the GDP to around 25% by 2030, and contribute at least 7.5 trillion US $ in the projected 35 trillion economy when independent India turns 100 in 2047.

These notes of optimism struck by industry stalwart, Kamal Bali, Chairman, CII Southern Region & President and Managing Director, Volvo Group, India, in the inaugural session of the sixth edition of ‘CII Northern India Conference on Achieving Excellence in Manufacturing’, on Friday, mirrored the industry wide bullish mood around “India’s rise”. The theme of the conference was ‘Powering the Disruptive Technologies’.

MSMEs Gear Up; Nothing Can Stop India’s March, Lifeinchd

Dr Buta Singh Sidhu, Vice-Chancellor, Maharaja Ranjit Singh State Technical University, Bathinda, addressing the CII Northern Region Conference on ‘Achieving Excellence in Manufacturing’ in Chandigarh, on Friday

Photos By: Life In Chandigarh

Acknowledging that India will never become a China, he asserted that despite the fact that “our chaotic and complex democracy” is not going to change much in the future, and “we will continue to remain argumentative”, nothing will stop India from leapfrogging into the future and become a world leader.

Giving a power point presentation, and later interacting with the delegates and CII members, Kamal Bali opined that amid the global uncertainties and turmoil, caused essentially by the pandemic and the Ukranian war, while most of the other large economies are showing low growth rates and spiraling inflation, India has acted responsibly. The result, not only is India the fastest growing economy but the resilience it has shown is remarkable, he shared.

Expressing the view that growth in per capita GDP is more important than growth in GDP per se, he said it is heartening to note that going by current projections it is expected to double from an estimated US $ 2300 to US $ 4500-5000 by 2030. “Imagine what will happen when it touches US $ 10,000 by 2047! Along with being the world’s factory, India will also become the world’s largest market.”   

However, moving forward, some mega trends or shifts are expected to reshape our business landscape, the key shifts being sustainability & energy transition, digital & emerging tech, partnerships, innovation, people focus and geo-political. We need to prepare and rationally align our businesses in tune with these transformations, he added.

While underscoring the crucial role of collaborations and partnerships in the future business landscape, Bali gave the example of rivals Daimler (Mercedes-Benz Group) and Volvo Group putting a billion US $ each to together work on hydrogen cell technology.

Sharing another example of Volvo Group entering into a strategic alliance with Samsung SDI to develop battery packs for Volvo’s electric trucks, he said Volvo had committed between 2 and 3 billion US $ in eight such partnerships.

The Volvo Group India boss expressed the view that MSMEs had to play a key role in the manufacturing sector’s push for raising its share in India’s GDP to around 25% and for that they need to scale up their businesses and manufacturing capacities.

MSMEs account for majority share of jobs in the industry, but they do not scale up, despite the rich entrepreneurial culture, he said, adding that 90% of the MSMEs in the country are micro enterprises. He stressed further that the share of MSMEs with less than 50 employees is estimated to be 85% as compared to a mere 25% in China.

Advising the MSMEs to henceforth prioritise rational upgrade of technology in manufacturing and business processes, and skilling and upskilling as a perpetual exercise, Bali said this is the key to fulfilling the 10 million jobs required each year. At the same time, he emphasized that it is essential to align the emerging jobs and the required skills to ensure that the skilling also brings value addition to the employment.

Extolling the northern region’s traditional prowess in manufacturing, Bali expressed confidence that the MSMEs of this progressive region will once again take the bull by the horns and lead manufacturing to new heights by bringing innovation and quality back on the agenda.

MSMEs Gear Up; Nothing Can Stop India’s March, Lifeinchd

(From left to right) Sriram Kannan, Dr PJ Singh, Kamal Bali and Madhavkrishna Singhania participating in the iaugural session of the conference

In his address, Sriram Kannan, Managing Director, CLAAS India Ltd, while emphasising that manufacturing excellence is not a destination but a continuous process, highlighted the importance of a skilled and motivated work force in such endeavour.

Dr Buta Singh Sidhu, Vice-Chancellor, Maharaja Ranjit Singh State Technical University, Bathinda while acknowledging the big gap between the academia and the industry in the region, sought the cooperation and support of the industry to urgently bridge this gap so that job ready work force can pass out of educational institutions. He also sought the indulgence of industry organizations like the CII to include industry leaders in the board of studies of higher learning institutions.

Madhavkrishna Singhania, Deputy Chairman, CII Northern Region & Deputy Managing Director & CEO, JK Cement Ltd, stressed that as an industry, we must prioritize supply chain efficiency, cost-effectiveness, design-led approaches, and technological advancements to seize emerging opportunities.

Dr PJ Singh, Chairman, CII Punjab & CMD, Tynor Orthotics Pvt Ltd, urged the MSMEs to adopt the right machines, the right processes and reduce waste to realize the full potential of advanced manufacturing, while at the same time being mindful of the environmental impact of their operations.

Besides focused sessions on ‘Transforming Railway Manufacturing: A Journey of Excellence’, ‘Smart Manufacturing Powered by Industry 4.0’, and ‘Green & Sustainable Manufacturing’, a Vendor Development & Registration Meet with Rail Coach Factory, Kapurthala, Mahindra & Mahindra Swaraj Division & International Tractors Limited was also organized.

In this meet, procurement & sourcing teams from these companies interacted with existing & prospective suppliers & vendors.  The requirements and processes required to be an OEM (original equipment manufacturer) to these companies were also shared.

Around 130 delegates from industry across the region attended the conference and the Vendor Development Program.

 

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