Business Strategy: IDC Manufacturing Insights - Country Profile Series: India FY16
Manufacturing in India has undergone multiple phases of transformation starting with the formation of manufacturing policies in the early 1950s to market-changing liberalization policies in the 1990s. But the biggest change that brought India to the forefront of global manufacturing is the "Make in India" initiative. It has been two years since the initiative has been introduced and has already seen record FDI flowing in and a significant sentiment change regarding the "ease of business setup." This IDC Manufacturing Insights study analyzes the economic drivers, social trends, effects of the recent policy changes, drivers and factors affecting the overall manufacturing in India, and the effect of digital transformation on the sector as a whole. "With the overall objectives of making India a global manufacturing and innovation hub, manufacturing organizations will need to think out of the box and aim at integrating digital technologies with traditional manufacturing processes for increasing productivity, remote-monitoring equipment health, and accelerating collaborative product innovation drives through social business channels, " says Sampath Kumar Venkataswamy, research manager, IDC Manufacturing Insights.