On the eve of the India’s Republic Day I would like to highlight the economic growth the country has achieved in the manufacturing sector. When we hear about India’s growth it’s normally about the services, computer software and IT outsourcing industry. However the country’s manufacturing sector is also making a significant impact on the overall growth. The article “Manufacturing Drives India's Economic Growth” by Uday Lal Pai demonstrates the manufacturing sector growth backed by some impressive statistics.
“A stable and booming economy augurs well for an Indian manufacturing sector that is estimated to command a market capitalization of $520 billion by 2014-15”
The Indian industries like Tata, Reliance, VSNL, Birla Group and Mahindra are on M&A rampage. The internationalization of these firms is having a major impact on the sector. The automotive sector is also picking up. The launch of Tata Nano for $2500 was global news and brought the company in media limelight. Other companies like Bajaj and Mahindra are also planning to launch new cars. The collaboration between Indian and China should also give some uplift.
Happy Republic day!
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