Boost manufacturing to get rid of poverty, attain inclusive growth: NMCC

NEW DELHI: The National Manufacturing Competitiveness Council (NMCC) today said enhancing India's industrial output will help eradicate poverty and ensure comprehensive growth.

"Adopting Manufacturing Excellence as a national mission is the only way to get India rid of the vast poverty and to help it achieve all inclusive growth," NMCC Member Secretary Ajay Shankar said at a function organised by CII here.

The country needs to build a strong consensus amongst all stakeholders, including Central and state governments and agencies, institutions, NGOs, industry bodies and the society, as a whole to make India a world leader in manufacturing, he added.

India ranked fourth in manufacturing competitiveness after the US, Germany and China, according to the Perception Analysis survey carried out by consultancy major Deloitte.

"We have the capacity to emerge as the second best destination for manufacturing in the world in terms of its strength in design and technology, resource base, rich pool of young talented people and entrepreneurial spirit by 2020," Shankar said.

Strong focus on innovation to increase productivity, quality and cost effectiveness is critical for the country's manufacturing sector to survive, grow and compete globally and improve the worsening current account deficit (CAD), he added.

Outlining the path to enhance manufacturing capabilities, Maruti Suzuki India COO M M Singh said: "India's target of raising contribution of manufacturing sector to 25 per cent of GDP can be achieved if we adopt automation, innovation, enable R&D linkages, enhance productivity, reduce costs, develop skilled labour and raise quality".