As the 10th anniversary of the Make in India initiative nears, CNBC’s Inside India takes a look at how the nation’s manufacturing has evolved —…
This report is from this week's CNBC's"Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribeThose classifications held true for decades as India grew its capabilities in global command centers and other information technology services while China dominated large-scale manufacturing.
For instance, automaker Kia India set up its manufacturing facility in the district of Anantapur — over 200 kilometers away from Bengaluru — while homegrown companyIndia's manufacturing sector has seen"remarkable" growth says, Samir Kapadia, founder and CEO of B2B marketplace India Index.
For context, 61% of the 500 executive-level U.S. managers surveyed by market research firm OnePoll earlier this year said they would"What India will do is a lot more grandiose — I see a leapfrog in its entire workforce into industries like semiconductors, advanced manufacturing, aerospace and medical devices," Kapadia said.While India looks to poach China's manufacturing share, other countries like Indonesia, Vietnam, Bangladesh and Mexico are also stiff competitors.
"The policy intention and direction of Make in India is correct. But we haven't seen much of a change in terms of increasing the share of manufacturing in India's GDP, or in job creation," Shumita Deveshwar, chief India economist at TS Lombard, told Inside India.What is needed is an increase in India's competitiveness through the addition of jobs at higher skill levels, Deveshwar said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNBC's Inside India newsletter: The search for a stock market alternativeIndian bonds attract foreign investors as Wall Street forecasts lackluster future growth in stock prices.
Read more »
CNBC's Inside India newsletter: The search for a stock market alternativeIndian bonds attract foreign investors as Wall Street forecasts lackluster future growth in stock prices.
Read more »
CNBC's Inside India newsletter: A tale of tier 2 citiesIndia's economic map is being redrawn.
Read more »
CNBC's Inside India newsletter: A tale of tier 2 citiesIndia’s economic map is being redrawn.
Read more »
CNBC's Inside India newsletter: What happens when the Fed cuts rates?Inside India also has more on whether Gautam Adani, founder of the Adani Group conglomerate, could become a trillionaire.
Read more »
Inside the futuristic new way to take your money: Ads inside your carToday's Video Headlines: 9/16/24
Read more »