India should position itself as Global Manufacturing Hub due to its cost-efficient ecosystem: Manish Sharma, President & CEO (India and South Asia), Panasonic, India

Sep 14, 2021

NEW DELHI, 14th September 2021:  LEADS is curated as a strategic platform for global leaders from Asia, Europe, Africa, CIS, Americas & the Pacific, to deliberate on the tenets of Leadership, economic Excellence and Adaptability to change and to build on pillars of Diversity and Sustainability.

Speaking at the virtual 'LEADS 2021' session on East Asia Session on Future of Global manufacturing partnerships with India' organized by FICCI, Mr Manish Sharma, President & CEO (India and South Asia), Panasonic, India said that the necessity to reimagine supply chains is highest in these times. Now is the time when India should position itself as Global Manufacturing Hub and initiatives like Make in India and PLI are incentives towards this vision, he added.

Mr Dilip Chenoy, Secretary General, FICCI highlighted that India provides excellent opportunity to the world especially eastern countries to manufacture with cost efficient ways, in the backdrop of great initiatives by Government of India.

Mr Arijit Sen, Vice President, Government Affairs, Vivo, India reiterated that we need to focus on component manufacturing rather than just assembly going forward. Local value addition within India can be significantly higher, he noted.

Mr Takahiro EBISU, CEO, Sojitz India Pvt. Ltd India said that India is an attractive destination for Japanese companies for manufacturing for not only expansion of existing investment but also new investments

Mr Fumitaka Taki, Chairman and MD, Denso International India Pvt Ltd highlighted how Denso is working towards the vision of CO2 neutral manufacturing by focusing on EV.

The session was concluded with the following key outcomes:

• India should position itself as Global Manufacturing Hub due to its cost-efficient ecosystem and Government of India's key initiatives like Production Linked Incentive (PLI) scheme, which expect to expedite local manufacturing. 
• The focus going forward should be on Component manufacturing rather than just assembly as local value addition, as it will also help to involve a vast segment of SMEs.
• Eco friendly manufacturing technologies should be central to the idea of this sustainable growth.

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Event

• LEADS 2021