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India's Quiet Manufacturing Boom: A Silent Revolution
15 May
Summary
- Medium-scale businesses are key to India's manufacturing future.
- Electronics manufacturing output surged from $10 billion to over $115 billion.
- Improved infrastructure and simpler regulations are vital for growth.
India's industrial strength is steadily growing through its numerous workshops and medium-scale enterprises, rather than solely through headline-grabbing corporations. Anand Mahindra emphasizes that these businesses are quietly becoming globally competitive, forming the backbone of the nation's manufacturing future.
This quiet expansion is evident in sectors like electronics, where manufacturing output has dramatically increased from approximately $10 billion in 2014 to over $115 billion currently. India is also increasingly integrated into global supply chains, notably with companies like Apple.
Mahindra stressed that continued growth requires improved infrastructure, such as better roads and industrial parks, alongside simplified regulations. He noted that facilitating ease of doing business for medium-scale enterprises is as crucial, if not more so, than incentives for larger corporations.
