Indian Manufacturing Competitiveness
An Initiative Towards Enhancing India’s Prosperity
India is currently facing huge turbulence on sustaining high economic growth without compromising with rising fiscal deficit. The slower projected growth rate of 7 – 7.5% is causing India to lose its shine & attractiveness in the global economy. Apart from growth, issues pertaining to employability, poverty, food security, sustainable industrial development and many more are hitting hard at the competitiveness of Indian economy in global arena.
Institute for Competitiveness, India is working on the “Indian Manufacturing Competitiveness Project” to find out the various factors which are affecting the India’s competitiveness in global economy. The project aims to understand the manufacturing competitiveness of Indian states and condition of India’s Competitiveness across the globe.
The India Competitiveness Project will help to understand the drivers of India’s Competitiveness and some of the major challenges that Indian Economy will face in Future. In addition on a state level, it will provide insight on various initiatives taken by state government that have led to high growth in their manufacturing sector, identify the various factors that affect the manufacturing competitiveness of the state, suggest policy imperatives to increase the ease of doing business in the manufacturing sector, classify states in their different stages of development in the manufacturing sector and come out with a robust strategy plan to improve their manufacturing competitiveness.
Institute for Competitiveness, India is coming with a Council on Competitiveness which comprises of business leaders, academicians and researchers to discuss and nurture the idea of increasing the competitiveness of Indian economy in an effective manner by conducting round tables, conferences etc.
In addition, the ongoing activities of this project are
a) Competitiveness Questionnaire: “India Competitiveness Project”, a project initiated by Planning Commission of India in association with Institute for Competitiveness in order to identify the key drivers of India’s Competitiveness, understand the manufacturing competitiveness of Indian states and develop strategies to enhance the manufacturing competitiveness is carrying out a survey. The questionnaires are getting filed only by the top corporates and business unit heads.
b) Council on Competitiveness: To keep a track on India’s competitiveness and take appropriate steps in this direction on a timely basis, Institute for Competitiveness is forming a “Council on Competitiveness”. It will be an elite group of expert people who will contribute towards enhancing India’s Competitiveness. People can also join the council via nominations.