Why Am I Hopeful About India’s Manufacturing Sector by Indra:
As World Economic Forum Founder and Chairman Professor Klaus Schwab said in recently held India Economic Summit, 2005, “It is indeed important for India to excel globally not only in the services sector but also in the manufacturing sector. Manufacturing in India has become much more sophisticated with the introduction of high technology in many of its production processes. A key priority for India is to provide jobs for its large population and in this regard, the resurgence of Indian manufacturing would generate millions of jobs throughout the country.”
Since India’s manufacturing economy is so small now they would actually see increases in manufacturing jobs. China has lost many more manufacturing jobs than the USA (15 million to 2 million from 1995 to 2002) as previously China’s factories were staffed with millions of workers with no actual work to do.
From my previous post, Go Lean to Remain Competitive:
I think it will be interesting to see if this is a sign of a broader adoption of such management principles in India. If so, I think that would compliment the software industry in promoting continued economic development in India quite well. And, if so, in 10 years I think we will be hearing much more about manufacturing in India than we do today.