Need to Look Beyond Boundaries
Indian construction companies and equipment manufacturers should explore opportunities outside the country as India has the potential to become a global manufacturing hub. Reports Saeeduddin Faridi
The infrastructure sector presents India with a unique opportunity of becoming an exporter of infrastructure construction capacity. Manufacturers of construction equipment as well as construction companies can expand their markets beyond India’s borders with their technological expertise, innovativeness, and business acumen. The government’s Atmanirbhar Bharat mission to make India a Self-Reliant Nation - can be a catalyst for this process.
India has the potential to become a manufacturing hub for the world as the cost arbitrage advantage India possesses will attract multinationals to Indian shores. India needs to formulate policies keeping in mind whether multinationals or home-grown manufacturers should be able to compete beyond the borders.
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NBM&CW July 2021