As efforts are on to make India a manufacturing hub for the world, the government is providing PLI schemes for select industries. This includes mobile phone manufacturing, pharma and recently the Union Government rolled out the scheme for White Goods.
While the scheme will take time to show results, the manufacturing industry, which has the potential to be the highest employment generator in India, will get a major shot in the arm.
With Make In India (Make II as it is usually referred to) being given higher priority and a very progressive step of releasing the Indian Defence Industry from the clutches of bureaucratic red tape and public sector control, private sector participation will ultimately lead to higher skill generation and employment opportunities while making India self-reliant in defence manufacturing as well as defence research and development. The negative import list is a pathbreaking step which will ensure that the outdated import focussed mindset of the decision makers is forced to look internally and ensure the right environment is created for innovation and development.
With specific manufacturing corridors being set up, added with the speed at which development of infrastructure is in focus, all round development across the country will restrict movement of labour to already over loaded cities and ensure equitable distribution of opportunities and income across India. Startup India and Standup India initiatives fuelled by corridors like the Delhi Mumbai Industrial Corridor will go a long way in providing the right kind of platform for ambitious entrepreneurs and highly skilled individuals to show case their capabilities and contribute to the growth of the Industry.
With renewable energy reliance on China planned to be reduced in the near future and other areas being looked at for indigenization, things are only looking up for the manufacturing sector.
With a team possessing in depth knowledge in both systems and processes, including Automation and ERPs, deployed by the best in the industry, Thynkfinn provides the right skillset to assist you in setting up or streamlining your systems and processes through benchmarking and prioritizing based on your specific requirement and making best use of the incentives provided by the Government in the sector.