Champion industry is a fantastic initiative by CII and we need champion states as well,” stressed Mr Amitabh Kant, CEO, NITI Aayog, adding that each state must identify its core competencies for manufacturing. Speaking at the ‘Conference on Championing Manufacturing in India’ organised by the Confederation of Indian Industry (CII) in New Delhi, he stated that progress on roads and railways has been the best ever in the last two years.
“Infrastructure construction can drive manufacturing growth and India must be an easy and simple place to do business,” emphasized Mr Kant, pointing out that of 344 procedures under Ease of Doing Business (EODB), as many as 148 related to the Micro, Small and Medium Enterprises (MSME) sector.
Mr Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion (DIPP), observed that reforms in EODB will be a game changer for lowering manufacturing transaction costs. He identified the sectors of textiles, footwear, agro and food processing and gems and jewelry, among others, for creation of employment.
Speaking on the introduction of Goods and Services Tax (GST), CII called for quick implementation of this major tax reform. Dr Naushad Forbes, President, CII, said, “It is frustrating to be deprived of benefits of the transformative reform of GST.” He noted that introduction of GST could add Rs 8,000 to the incomes of the average Indian household each year which would progressively increase in the future. Hence, the opportunity cost of not introducing GST was high.
Mr Chandrajit Banerjee, Director General, CII, added, “We need political maturity and convergence of political minds to get GST through.”
Mr Anant J Talaulicar, Chairman, CII Manufacturing Council and Chairman and Managing Director, Cummins Group India, said that GST is important to create a national market. Congratulating the present regime for focused attention on Make in India, he went on to say that CII had studied the recipe for success of 32,000 companies with the best returns over ten years to identify best practices.
Mr Aroop Zutshi, Global President and Managing Partner, Frost and Sullivan, outlined the process that CII and Frost and Sullivan undertook to identify 26 industry segments that could emerge as global champions.
These sectors include the industries of auto and auto components, aerospace and defence, engineering, infrastructure (cement and steel), chemicals and pharmaceuticals, and ICTE. CII will be working to identify policies required to make these sectors number one or two globally.
Mr Kant and Mr Abhishek launched the CII online diagnostic tool for manufacturing competitiveness www.ciimissionmfg.com on the occasion. The portal helps manufacturing companies benchmark themselves against the best enterprises and identify the areas of improvement.