‘R&D, right policies key to build a capital goods factory for the world’
Experts at a panel discussion pointed to how MSMEs and start-ups bring a lot of new technology to the larger companies
The time is ripe for India to enter the big league of global manufacturing in capital goods, as multinational companies increasingly adopt a China-plus-one strategy to diversify production. Currently, the capital goods sector contributes 1.8% to India’s GDP, and accounts for almost 12% of its manufacturing output. However, India needs to have the right policy frameworks, accent on research and focus on supplying to foreign markets to make the best of these tailwinds, panelists at the Mint Zetwerk Smart Manufacturing dialogue said.