IETF
2003
The
overwhelming consensus that emerged at the IETF 2003 conference on ‘Indian
manufacturing: Global Outsourcing Opportunities’, organised by the Confederation
of Indian Industries (CII), was that the government and the CII should
jointly work together to increase outsource requirements of foreign
companies from India. The conference was held on February 7, 2003 at
Phoolwari, Pragati Maidan, New Delhi.
This
thought found echo in the address of Naresh Narad, Secretary at the
Ministry of Heavy Industries and Public Enterprises. Mr Narad opined
that the chief objective as far as Indian manufacturing is concerned
is to increase export volumes in order to propel Indian manufacturing
to a ‘11 per cent growth orbit’. According to him, this can only happen
if the outsourced dependency of foreign firms on Indian manufacturing
units can be increased manifold. He also laid down a policy prescription
for the Indian manufacturing sector saying that India should leverage
its traditional manufacturing competencies like lower cost, high quality
products and trained and affordable manpower in such a way that it becomes
an integral part of the global manufacturing outsourcing chain, much
like what the Indian IT sector has achieved.
Narad
revealed that the heavy industry Ministry had set up an Inter-Ministerial
Group to reconcile and prioritise the areas considered vital to the
growth of the segment. He also disclosed that a Task Force on Exports
has also been set up with the responsibility of prioritising exports
of capital goods....(contd)
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