‘Telangana ahead in its approach to attract new investments’

Hyderabad: The Telangana Government is proactive and has innovative industrial policies. It has always stayed ahead in its approach to attract new investments into the State. It is in the forefront to support the survival and growth of businesses and industries to compete at the global level, said Vijay Kalra, Head-Mahindra Institute of Quality. SMEs […]

Hyderabad: The Telangana Government is proactive and has innovative industrial policies. It has always stayed ahead in its approach to attract new investments into the State. It is in the forefront to support the survival and growth of businesses and industries to compete at the global level, said Vijay Kalra, Head-Mahindra Institute of Quality.

SMEs are the backbone of the Indian industry and digital transformation was crucial, relevant and an important aspect of Indian manufacturing growth story, he said at a conference on manufacturing excellence, organised by industry body Confederation of Indian Industry in partnership with Government of Telangana.

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The next wave of growth in manufacturing is through digitalisation. It is an apt enabler for building resilience. It allows companies to integrate their processes on digital platforms to achieve agility and flexibility in the areas such as manufacturing, product development, sales andafter sales, said VS Ram, CII Telangana Manufacturing Panel Convenor and Vice-President Farm Division, Zaheerabad, Mahindra & Mahindra.

Prof Chandan Chowdhury, Sr Associate Dean and Practice Professor at ISB said customers today are expecting products to be more sustainable. India’s strengths include a young working population and growing domestic market for consumption of manufactured goods. It can be a manufacturing hub as it has a large pool of engineers.

Manufacturing sector is witnessing a wave of growth through digital transformation and by leveraging artificial intelligence, Internet of Things, machine learning, and 3D printing. Production-linked incentive (PLI) schemes introduced in 13 sectors will boost manufacturing in India, said Abhijit Dutta, Managing Director, Accenture Solutions.

India needs to develop better technologies in artificial intelligence, machine learning and efficiencies as to be in a position to tap the opportunities of China Plus one, where companies operating in China look out to expand in another country, said Rajesh Khosla, CII Telangana Manufacturing Competitiveness Panel Co-Convenor and AGI Greenpac Chief Executive Officer.