A consistent growth rate is what every business looks forward to. Likewise, it seems that soon growth will be witnessed in the manufacturing of electronic products as stated by the government experts during the Invest Karnataka Summit 2016.
Startups have been working towards manufacturing of products in the cities of Bangalore, Mysore and Belgaum. On similar lines, the Principal Secretary (IT) of BT and S&T, Karnataka, Mrs. V. Manjula states that, “Globalization is great, but Indian companies should not overlook local markets totally.”
Karnataka owes a lot of its development and growth in the engineering sector, inclusive of colleges and training centres due to which there is still a lot of scope for engineering and fields alike. The state is now focused on its vision of starting up with 20,000 tech startups inclusive of 6000 product startups as well by 2020.
“This will lead to 600,000 direct jobs and 1.2 million indirect jobs,” states V. Manjula. Karnataka does excel in designing and manufacturing processes due to its environment. This in turn leads us to the idea of being able to replace all earlier notions of designing and manufacturing to the concept of ‘Make in India’.
Many have achieved success in India itself whereas overseas market plays an important role for other often. “Most of the Indian customers will buy Indian high-tech products only if they are successful first in the US, Germany, and Japan,” pointed out Vishwa Prasad Alva, MD, Skanray. In case Indian manufacturing is successfully incorporated into the processes and scaled in the right manner, India can manage to reduce about 90 percent of its cost of production for various products.
On the contrary, though many budding entrepreneurs are now moving forward to bring a change in the industry, they are very much successful in managing not to get lost in the crowd. It seems that the concept of Make in India will surely be a boost to the entire industry of Indian manufacturing as everyone now is gearing up to make a difference!