Progress of manufacturing sector, 'Make in India' initiative is positive: Study
Updated: Sep 26, 2015 04:16:55pm
New Delhi, Sept 26 (KNN) The buzz around Make in India has been positive with a growth rate of 3.2 per cent in the first quarter and 14 of the 22 sub-sectors also showed positive growth, according to a study.
A report entitled 'Future of Indian Manufacturing: Bridging the Gap' by CII-BCG said the outlook is broadly positive given the growth in IIP as well as clear uptick in the manufacturing FDI.
BCG assessed progress of the 'Make-In-India' thrust, compares states on their quality of manufacturing ecosystem, looks at global shifts, and lays down imperatives for the industry. CII-BCG also conducted a survey among the leaders of the manufacturing industry, for developing the key themes in this report.
The report also noted the efforts on reforms related to land, labour, GST and procedural simplifications. However, only 20 per cent of the executives surveyed feel that there has been an improvement in ease of doing business.
Nevertheless, 42 per cent of the executives feel that the government's manufacturing drive has been effective, as against the 21 per cent who feel otherwise, it said.
The report also called for continuing action by the state and the central government on reforms, simplification and infrastructure build-out. In addition, it also highlighted the industry responsibility to invest in creating long term capabilities and shun the urge to adopt “jugaad” methods. (KNN Bureau)
A report entitled 'Future of Indian Manufacturing: Bridging the Gap' by CII-BCG said the outlook is broadly positive given the growth in IIP as well as clear uptick in the manufacturing FDI.
BCG assessed progress of the 'Make-In-India' thrust, compares states on their quality of manufacturing ecosystem, looks at global shifts, and lays down imperatives for the industry. CII-BCG also conducted a survey among the leaders of the manufacturing industry, for developing the key themes in this report.
The report also noted the efforts on reforms related to land, labour, GST and procedural simplifications. However, only 20 per cent of the executives surveyed feel that there has been an improvement in ease of doing business.
Nevertheless, 42 per cent of the executives feel that the government's manufacturing drive has been effective, as against the 21 per cent who feel otherwise, it said.
The report also called for continuing action by the state and the central government on reforms, simplification and infrastructure build-out. In addition, it also highlighted the industry responsibility to invest in creating long term capabilities and shun the urge to adopt “jugaad” methods. (KNN Bureau)
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