India is growing with greater speed with greater space for development in almost each sector. The domestic market is emerging with greater opportunities with the availability of low-cost workers with advanced technical skills.

Now, a report has said that India is on the verge of becoming a manufacturing powerhouse in coming 5 to 10 years.

Most of the multinational companies are setting or willing to set up manufacturing operations in India. Ford, Hyundai and Suzuki, the global players in auto sector are planning to export cars from India in large numbers.

Global mobile manufacturer such as LG, Motorola and Nokia are all set to make cell phones in India. Some of the global players in this field are also planning to establish manufacturing units in India. They have planned for a sizable share of production for export only from India.

ABB, Schneider, Honeywell and Siemens have been set up manufacturing units for electrical and electronic products for Indian as well as export markets.

The Boston Consulting Group and Knowledge@Wharton has published a report on this under the title What’s Next for India: Beyond the Back Office. The report says that India has been behind in manufacturing sector mainly due to poor infrastructure, bureaucratic red tape and restrictive labour laws for years.

Arindam Bhattacharya, a partner in BCG’s New Delhi office said;

Over the past five or six years, many firms have restructured their manufacturing operations and implemented world-class practices in the units working in India.

Slowly but surely, they have started building a globally competitive manufacturing base in industries like pharmaceuticals, auto components, cars and motorcycles.

Further, Wharton professor of management Saikat Chaudhuri said;

Today every global company has India on its future plans. Indian universities graduate 400,000 engineers a year, second only to China.

It’s now a matter of time until India converts its engineering prowess into manufacturing capabilities.

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