Today, India’s manufacturing industry stands at a defining juncture. At home, the industry has upon it the responsibility of providing the economy a much-needed push. At the global level, manufacturers and consumers look for new manufacturing hubs to take on the pent-up demand of the post-pandemic years. India, with its democratic institutions and educated workforce, and a zest for enterprise, finds itself among the top contenders.
By all accounts, India’s manufacturing sector is punching far below its weight. Even though, in terms of GDP share, at 16 percent, India is comparable to that of other large economies such as Japan (19 percent) and the US (12 percent), at the global level it has miles to go. Presently, India accounts for 3 percent of global manufacturing output, far below that of Germany (7 percent), the US (18 percent), and of course, China (20 percent).
Clearly, a lot needs to be done, and the government’s Make In India campaign envisages fast growth and a vibrant future for the sector. Among the campaign’s chief objectives is to launch and drive campaigns to bring manufacturing to the front and center of people’s imagination and aspirations.
In its small way, MeshMix Media, through its publishing platforms — Dynamic Manufacturing India magazine (DMI),www.machine-insider.com and www.scm-log.com— has been doing its part to contribute to the cause. Over the last five years, we have captured the voices and experiences of manufacturers of industries such as aerospace, space, automotive, machine tools, disruptive tech, and medical devices.
Taking it a step forward, in 2020 MeshMix Media instituted an award, titled ‘Industry Samurai Awards™’with an aim to recognize and felicitate manufacturing and supply chain companies and stakeholders who responded boldly and bravely to the once-in-a-century crisis. The Awards drew a greatly encouraging response, and we owed a lot of it to our esteemed Jury members who brought credibility and gravitas to the forum.
This year, we aim to go bigger. We intend to find winners based, not just on their response to the pandemic, but also on their financial and qualitative performance and customer service demonstrated during fiscal 2021. This year’s awards provide a template for the type of performance that we will recognize through these awards in the coming years.