Indian industry leaders on Sunday stressed the need to bring in new technology into the country’s manufacturing, rather than depend solely on cheap labor, to make the Make In India initiative a success. “There will be migration of large-scale low cost factories from China to India. But that shouldn’t be the only manufacturing India does,” Mahindra & Mahindra chairman Anand Mahindra said at the CNN Asia Business Forum held as part of the ongoing Make In India Week. Also Read - Apple reportedly going to make iPhone 12 in India from next yearAlso Read - Xiaomi launches Mi For India initiative to distribute 2,500 phones to COVID-19 affected children
“Is there going to be a disruption in the way we ‘Make in India’. Manufacturing should be democratized and decentralized,” he said. “India has a track record of setting up world class cement, textile factories and oil refineries. We have to take India to the next level,” said Kumar Mangalam Birla, chairman of the Aditya Birla Group. Also Read - Daiwa launches 49-inch and 55-inch 4K Smart TVs in India, price starts at Rs 29,999
“New skills such as use of algorithm remote sensing must be used in manufacturing to remain constantly contemporary. We as a country are highly innovative. It is part of our DNA,” he added.
Describing India as a “highly innovative place,” American multinational General Electric’s South Asia chief executive, Banmali Agrawala, said, “We’re pressing the pedal on getting digital.”