India's Manufacturing Revolution: Overcoming Challenges for Sustainable Growth

A report by Cushman & Wakefield highlights key strategies for advancing India's manufacturing sector. It emphasizes the significance of plug-and-play industrial parks, cost reduction in logistics, and skills development. Addressing logistics and productivity gaps is crucial for sustaining growth, with policy support and infrastructure improvements being pivotal drivers.

India's manufacturing sector is on the cusp of transformation as highlighted by a recent report from Cushman & Wakefield. The report suggests that developing plug-and-play industrial parks, reducing logistics costs, and enhancing skills are crucial for bolstering manufacturing activities.

Titled 'Elevating India's Manufacturing Resilience: Charting the Path to Self-Reliance', the report stems from a survey involving 94 senior decision-makers across the sector, offering insights from both large enterprises and MSMEs. The findings reveal significant alignment between infrastructure investment, clear policies, and industry objectives.

Key challenges threatening sustainable growth include high logistics costs, insufficient warehousing capacity, low value addition, and skill gaps. To overcome these hurdles, the report proposes a five-point strategy, emphasizing the importance of infrastructure-ready zones to reduce market entry time, lower capital expenses, and mitigate risks, particularly for MSMEs.

(With inputs from agencies.)