Indian-Manufacturing Overview and Prospects

INDIAN MANUFACTURING:
OVERVIEW AND PROSPECTS

........................................................................................................................
CONTENTS
1. INDIAN MANUFACTURING SECTOR: AN OVERVIEW ......................................................... 5
1.1 Role of manufactu!n" !n t#e In$!an econom% ................................................................... 5
1.& T#e 'u()'ecto' t#at 'tan$ out !n In$!a*' manufactu!n" 'ecto.................................... +
1., Manufactu!n" 'ecto*' ecent "o-t# '.ut: Clue' fom II/.......................................... 0
&. TA//ING T1E G2O3A2 MAR4ET ........................................................................................... 5
&.1 In$!a*' "o-!n" manufactu!n" e6.ot' .............................................................................. 5
&.& T#e ma!n e6.ot ma7et': US8 We'ten Euo.e8 an$ t#e M!$$le Ea't ............................ 1&
,. INCREASING COM/ETITIVENESS OF INDIAN MANUFACTURING .................................... 1,
,.1 Secto #a' an e$"e !n t#e "lo(al aena ............................................................................. 1,
,.& Encoua"!n" e'eac# an$ fo'te!n" !nno9at!on .............................................................. 15
,., Go9enment 'u..ot fo $e9elo.!n" a '7!lle$ -o7foce ................................................ 10
:. CURRENT TRENDS IN INDIAN MANUFACTURING .............................................................. 10
:.1 In$!a eme"!n" a' a "lo(al manufactu!n" #u( ................................................................ 10
:.& In$!an manufactu!n" "o-t# out'#!n!n" .ee' !n t#e 3RIC' ........................................ 15
:., Intee't!n" ten$' !n 7e% manufactu!n" 'u()'ecto' ..................................................... &;
5. FACTORS DRIVING T1E INDIAN MANUFACTURING GROWT1 STOR< ............................. &;
5.1 Fot!f!cat!on !n $eman$ ena(l!n" 'u'ta!na(le "o-t# of 'ecto ...................................... &;
5.& Tec#nolo"% $e9elo.ment !n!t!at!9e' ................................................................................... &,
5., Encoua"!n" Foe!"n D!ect In9e'tment =FDI> .................................................................. &, 5.: T#e Nat!onal Manufactu!n" Com.et!t!9ene'' Counc!l =NMCC>..................................... &+
........................................................................................................................
CONTENTS
+. O//ORTUNITIES IN INDIAN MANUFACTURING ................................................................ &+
+.1 A lucat!9e $ome't!c ma7et ............................................................................................... &+
+.& Manufactu!n" off)'#o!n" an$ In$!a: An e6am.le fom auto com.onent' ................. &?
+., Eme"ence of a manufactu!n" e6.ot #u( ...................................................................... &5
0. CONC2USION ..................................................................................................................... ,1
E@ECUTIVE SUMMAR<
In$!a*' manufactu!n" 'ecto !' on a #!"# "o-t# taAecto%. A' ta"ete$ (% t#e
Nat!onal Manufactu!n" Com.et!t!9ene'' Counc!l =NMCC>8 !t !' 'et to cont!(ute &5
.e cent to t#e GD/ (% &;&5 com.ae$ to t#e cuent '#ae of neal% 1+ .e cent.
Nota(l%8 t#e 'ecto cont!(ute$ ++ .e cent to t#e nat!on*' e6.ot' !n F<11 an$ #a'
(een 'ten"t#en!n" at a CAGR of &; .e cent !n t#e la't f!9e %ea'.

T#e com.et!t!9ene'' t#at t#e 'ecto comman$' !n t#e "lo(al aena !' $!9!n" !t'
"o-t#. In$!a an7' 'econ$ !n t#e -ol$ a' .e t#e &;1; Glo(al Manufactu!n"
Com.et!t!9ene'' In$e6 =GMCI> .e.ae$ (% t#e US Counc!l on Com.et!t!9ene''8 an$
Delo!tte. A' .e t#e 'ame 'ouce8 In$!a -oul$ ma!nta!n !t' 'econ$ an7 an$
cont!nue to $om!nate t#e "lo(al manufactu!n" 'ecto e9en afte f!9e %ea'. In$!a
#a' 'et (enc#ma7' !n t#e !ntenat!onal ma7et -!t# e'.ect to Bual!t% !n
manufactu!n". T#e count% !' cuentl% 'econ$ onl% to Ca.an !n #o't!n" com.an!e'
a-a$e$ fo Bual!t% e6cellence.

T#e In$!a a$9anta"e !' fa9ou!n" "o-t# !n t#e 'ecto a' !ntenat!onal .la%e' 'uc#
a' 1%un$a!8 No7!a8 Sam'un" an$ A!(u' ae focu''!n" on 'ett!n" u. manufactu!n"
fac!l!t!e' !n t#e count%. Intee't!n"l%8 In$!a*' "o-t# !n t#e manufactu!n" 'ecto
o9e'#a$o-' ot#e 3RIC mem(e'. T#!' can (e a''oc!ate$ to t#e 'ten"t# !n t#e
In$!an $ome't!c ma7et.

T#e fun$amental' of t#e econom% #a9e eme"e$ a' t#e $!9!n" foce fo "o-t# !n
t#!' 'ecto. A' .e t#e IMF8 In$!an econom% !' foeca'te$ to e6.an$ at a CAGR of
5.& .e cent o9e &;1;)15. A Mc4!n'e% e.ot .oAect' In$!a*' m!$$le cla'' to
e6.an$ 1& t!me' an$ u(an!'at!on to !ncea'e to ,? .e cent fom &5 .e cent o9e
&;;5 )&;&5. Con'eBuentl%8 t#e count% -oul$ eme"e a' t#e -ol$*' f!ft# la"e't
con'ume ma7et (% &;&5.

In$!a con'!$e' "o-t# !n t#e manufactu!n" 'ecto !m.otant fo t#e o9eall
$e9elo.ment of t#e econom%. T#e "o9enment !' e6ten$!n" 'u..ot t#ou"#
ta!n!n" .o"amme' !n o$e to en'ue a9a!la(!l!t% of '7!lle$ -o7foce. Al'o8
mea'ue' #a9e (een !nto$uce$ to encoua"e FDI !n t#e 'ecto. A' a e'ult8 In$!a
-a' an7e$ 'econ$ !n t#e -ol$ a' .e t#e &;1& FDI Conf!$ence In$e6 .e.ae$ (%
A.T. 4eane%.

T#e "o9enment #a' al'o 'et u. NMCC to !ncea'e t#e 'ecto*' "lo(al
com.et!t!9ene'' t#ou"# 9a!ou' mea'ue' 'uc# a' 'ett!n" u. of Nat!onal
Manufactu!n" an$ In9e'tment Done' =NMID'>. Fut#emoe8 t#e "o9enment !'
offe!n" 9a!ou' 'u('!$!e' an$ !ncent!9e' fo tec#nolo"!cal u."a$at!on !n eac# 'u()
'ecto of t#e manufactu!n" act!9!t% alon" -!t# '.ec!al 'c#eme' focu''e$ on m!co8
'mall an$ me$!um ente.!'e' =MSME'> fo en'u!n" an o9eall $e9elo.ment of t#e
'ecto.

T#u'8 "o-t# !n t#e $ome't!c ma7et a' -ell a' tact!on fom t#e e6.ot)$!9en
$eman$ #a' ena(le$ In$!a to e9ol9e on t#e "lo(al ma. a' a 7e% manufactu!n" #u(.

EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE....
.....
1. INDIAN MANUFACTURING SECTOR: AN OVERVIEW

1.1 Role of manufactu!n" !n t#e In$!an econom%

Manufactu!n" #ol$' a 7e% .o'!t!on !n t#e In$!an econom%8 account!n" fo
neal%
1+ .e cent of eal GD/ !n F<1& an$ em.lo%!n" a(out 1& ; .e cent of
In$!a '
la(ou foce. Go-t# !n t#e 'ecto #a' (een matc#!n" t#e 'ton" .ace !n
o9eall
GD/ "o-t# o9e t#e .a't fe- %ea'. Fo e6am.le8 -#!le eal GD/ e6.an$e$ at
a
CAGR of ?.: .e cent o9e F<;5 )F<1&8 "o-t# !n t#e manufactu!n"
'ecto -a'
ma"!nall% #!"#e at aoun$ ?.5 .e cent o9e t#e 'ame .e!o$. Con'eBuentl%8 !t'
'#ae !n t#e econom% #a' ma"!nall% !ncea'e$ $u!n" t#!' t!me F to 15.: .e cent
fom 15., .e cent. Go-t# #o-e9e #a' ema!ne$ (elo- t#at of 'e9!ce'8 an
!''ue
t#at #a' not e'ca.e$ t#e attent!on of .ol!c% ma7e' !n t#e count%.

Ston" "o-t# #a' (een accom.an!e$ (% a c#an"e !n t#e natue of t#e
'ecto F
e9ol9!n" fom a .u(l!c 'ecto $om!nate$ 'et)u. to a moe .!9ate
ente.!'e)
$!9en one -!t# "lo(al am(!t!on'. In fact8 acco$!n" to UNIDO8 In$!a
=-!t# t#e
e6ce.t!on of C#!na> !' cuentl% t#e la"e't .o$uce of te6t!le'8 c#em!cal
.o$uct'8
.#amaceut!cal'8 (a'!c metal'8 "eneal mac#!ne% an$ eBu!.ment8 an$ elect!cal
mac#!ne%. In t#e com!n" %ea t#e 'ecto ' !m.otance to t#e $ome't!c
an$
"lo(al econom% !' 'et to !ncea'e e9en fut#e a' a com(!nat!on of 'u..l%)
'!$e
a$9anta"e'8 .ol!c% !n!t!at!9e'8 an$ .!9ate 'ecto effot' 'et In$!a on t#e .at#
to a
"lo(al manufactu!n" #u(.

E6#!(!t 1
S!Ge of t#e manufactu!n" 'ecto !n In$!a
1;;;
&;;;
,;;;
:;;;
5;;;
+;;;
0;;;
?;;;
5;;;
1:.?
15.;
15.&
15.:
15.+
15.?
1+.;
1+.&
1+.:
;
F<;5 F<;+ F<;0 F<;? F<;5 F<1; F<11 F<1&
Manufactu!n" 'ecto ='!Ge !n INR (!ll!on8 con'tant .!ce'>
S#ae !n eal GD/ =H>

Souce: R3I8 Aanca Re'eac#

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 5

.....

E6#!(!t &
Go-t# !n eal GD/8 manufactu!n"8 an$ 'e9!ce' =H>
%
11
1,
15
,
5
0
5
F<;+ F<;0 F<;? F<;5 F<1; F<11 F<1&
GD/ Manufactu!n" Se9!ce'

Souce: R3I8 Aanca Re'eac#

1.& T#e 'u()'ecto' t#at 'tan$ out !n In$!a ' manufactu!n" 'ecto

Amon" 'u()'ecto' !n manufactu!n"8 t#e to. f!9e ae foo$ .o$uct'8 (a'!c
metal'8
u((e an$ .etoc#em!cal'8 c#em!cal'8 an$ elect!cal mac#!ne%. To"et#e
t#e%
account fo o9e ++.; .e cent of total e9enue' !n manufactu!n". 1o-e9e8
t#e'e
9et!cal' el% .!ma!l% on $ome't!c $eman$ fo a maAo .at of t#e! e9enue'.

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' +

.....

E6#!(!t ,

U'e)(a'e$ cla''!f!cat!on of In$!aI' manufactu!n" 'ecto
Manufactu!n"
3a'!c "oo$' Ca.!tal "oo$' Inteme$!ate "oo$' Con'ume "oo$'
/a.e an$ .a.e
(oa$'
Cotton clot#
Su"a
Tea
W#eat flouJma!$a
Tetac%cl!ne
At!f!c!al leat#e clot#
C!"aette'
3ee
Vana'.at!Je$!(le
#%$o"enate$ o!l
/en!c!ll!n
Soa.'
/#one !n'tument
W!'t-atc#e'
Commec!al 9e#!cle'
Auto com.onent'
Elect!c moto'
Ra!l-a% locomot!9e'
Te6t!le mac#!ne%
Elect!c "eneato'
Mac#!ne tool'
S#!. (u!l$!n" an$
e.a!!n"
Com.lete tacto'
D!e'el en"!ne'
Wa"on'
Moto 'tate' an$
contacto'
3oa$ "au"e
.a''en"e ca!e'
3o!le'
Cotton %an
/etoleum ef!ne%
.o$uct'
Cute an$ me'ta te6t!le'
G!ant t%e'
T!n metal conta!ne'
3olt' an$ nut'
/l%-oo$ commec!al
/a!nt'8 enamel an$
9an!'#e'
Elect!c!t%
Coal
F!n!'#e$ Steel
Fet!l!'e'
Cement
Steel ca't!n"
/!.e' an$ tu(e' =ot#e
t#an '.un>
Stam.!n" an$ fo"!n"
Sul.#u!c ac!$
Cau't!c 'o$a
1ea9% 'tuctual
Alum!n!um !n"ot'
Co..e =cat#o$e>
Souce: Re'e9e 3an7 of In$!a =R3I>8 Aanca Re'eac#

1., Manufactu!n" 'ecto ' ecent "o-t# '.ut: Clue' fom II/

Manufactu!n" account' fo a la"e c#un7 of In$!an !n$u't%8 a fact (one out (%
t#e 'ecto ' 05 5 .e cent '#ae !n t#e In$e6 of In$u't!al /o$uct!on =II/> W!t#
CAGR of ?.0 .e cent $u!n" F<;5)F<1&=F< 1& !nclu$e' $ata fom A.!l&;11 to
Fe(1&>8 t#e manufactu!n" 'ecto #el.e$ t#e o9eall !n$u't!al 'ecto "et o9e lo-
"o-t# !n t#e ot#e t-o 'u()'e"ment' of II/8 M!n!n" an$ Kua%!n" =1:.& -e!"#t
a"e !n II/> an$ Elect!c!t% =1;., -e!"#ta"e !n II/> -!tne''e$ CAGR of ,.: .e cent
an$ 5.? .e cent e'.ect!9el%. On an e9en moe encoua"!n" note8 t#e
manufactu!n" 'ecto #a' 'ten"t#ene$ !n F<11 com.ae$ to t#e .e9!ou' f!'cal F
an anal%'!' of 1&1 'u()'ecto' (% t#e Confe$eat!on of In$!an In$u't% =CII> e9eal'
t#at onl% 5 of t#em eco$e$ $ecl!ne' !n F<11 com.ae$ to &5 !n F<1;. At t#e 'ame
t!me8 7e% 'u()'ecto' l!7e mac#!ne tool'8 (all an$ olle (ea!n"'8 te6t!le
mac#!ne%8 an$ ut!l!t% 9e#!cle' eco$e$ e!t#e e6cellent =a(o9e &; .e cent> o
#!"# =1;)&; .e cent> "o-t#8 t#ee(% a$$!n" to 9alue ceat!on !n manufactu!n". In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 0

EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE.........

E6#!(!t :
CAGR of II/ =F<;5)F<1&>L a6!' #ea$!n"' al'o !n$!cate '#ae' !n II/
5.?H 1;.,H Elect!c!t%
1:.&H M!n!n" M Kua%!n" ,.:H
?.0H 05.5H Manufactu!n"
0.?H II/
;H &H :H +H ?H 1;H

Souce: Cental Stat!'t!cal O"an!'at!on8 Aanca Re'eac#
Note: 3a'e: &;;:);5 N1;;

E6#!(!t 5
CAGR =F<;5)F<1&> of 7e% 'u()'ecto' -!t#!n manufactu!n" =II/>
?.0H Manufactu!n" =Total>
Mac#!ne% an$ eBu!.ment n.e.c.
1&.5H
1:.:H Moto 9e#!cle'O
Woo$ an$ .o$uct' of -oo$P +.0H
+.5H Foo$ .o$uct' an$ (e9ea"e'
Te6t!le' :.&H
5.0H 3a'!c metal'
;H &H :H +H ?H 1;H 1&H 1:H 1+H

Souce: Cental Stat!'t!cal O"an!'at!on8 Aanca Re'eac#
Note: P !nlcu$e' co7 .o$uct'8 at!cle' of 'ta- M .lat!n" mate!al'L e6clu$e' fun!tueL
O !nclu$e' ta!le' M 'em!)ta!le'

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ?

.....

E6#!(!t +
Go-t# ten$ of 1&1 manufactu!n" 'u()'ecto'
Go-t# F<11 F<1;
E6cellent =Q&;H > =:1> =,:>
1!"# =1;)&;H> =&+> =,;>
Mo$eate =;)1;H> =:5> =&,>
N e"at!9e =R;H> =5> =&5>
Souce: Confe$eat!on of In$!an In$u't% =CII>8 Aanca
Re'eac#
Note: F!"ue' !n (ac7et' !n$!cate num(e of 'ecto'

E6#!(!t 0
4e% 'ecto' fall !n Se6cellentI an$ S#!"#I "o-t# aea'
Mac#!ne Tool'
51.;H
,,.;H 3all an$ olle (ea!n"'
&5.:H A! con$!t!one'
Ve#!cle !n$u't%
&?.&H
Te6t!le Mac#!ne%
&5.;H
&5.;H
Tacto'
T%e In$u't%
&:.;H
Ut!l!t% 9e#!cle'
10.+H
1&.;H 1ome an$ /e'onal cae
;H 1;H &;H ,;H :;H 5;H +;H

Souce: Confe$eat!on of In$!an In$u't% =CII>8 Aanca Re'eac#

&. TA//ING T1E G2O3A2 MAR4ET

&.1 In$!a ' "o-!n" manufactu!n" e6.ot'

In$!a ' manufactu!n" e6.ote' #a9e .la%e$ a 7e% ole !n .omot!n" t#e 'ecto '
.o-e'' to con'ume' aco'' t#e -ol$. W#!le on one #an$ 'ecto' 'uc# a'
te6t!le' an$ "em' an$ Ae-elle% #a9e (een In$!a ' (an$ am(a''a$o' !n "lo(al
ma7et' '!nce anc!ent t!me'8 t#e count% #a' al'o ma$e !t' .e'ence felt !n 7e%
!n$u't!e' 'uc# a' en"!nee!n" "oo$' an$ c#em!cal'. In fact8 anal%'!' of In$!a '
e6.ot $ata fo F<11 e9eal' t#at en"!nee!n" "oo$' #a$ t#e #!"#e't '#ae !n
manufactu!n" e6.ot' =:;.: .e cent>8 follo-e$ (% "em' an$ Ae-elle% =&5.& .e
cent> an$ c#em!cal' an$ elate$ .o$uct' =10.& .e cent>. O9eall8 total
manufactu!n" e6.ot' !n F<11 "e- to USD1+?.; (!ll!on fom USD115.& (!ll!on !n F<1; T#e 'ecto ' e6.ot' "e- at a CAGR of 15 +H $u!n" F<;, )11.


.....

E6#!(!t ?
Manufactue$ Goo$' E6.ot' =USD (!ll!on>
CAGR: 15.+H
1;;
1&;
1:;
1+;
1?;
&;
:;
+;
?;
;
F<;, F<;: F<;5 F<;+ F<;0 F<;? F<;5 F<1; F<11

Souce: D!ectoate Geneal of Commec!al Intell!"ence an$
Stat!'t!c'8 Aanca Re'eac#

E6#!(!t 5
Com.onent' of F<11 manufactue$ "oo$ e6.ot' =.e cent>
1H ;H En"!nee!n" Goo$'
Gem' an$ Ce-elle%
&H
1:H
C#em!cal' an$ Relate$
/o$uct'
Te6t!le an$ Te6t!le
/o$uct'
2eat#e an$ Manufactue'
:1H
10H
Ot#e'
&5H
1an$!caft'P

Souce: D!ectoate Geneal of Commec!al Intell!"ence an$ Stat!'t!c'8 Gem M
Ce-elle% E6.ot /omot!on Counc!l8 Aanca Re'eac#. Note: Pe6clu$!n"
1an$ma$e Ca.et'
W!t#!n manufactu!n" e6.ot'8 en"!nee!n" "oo$' -a' one of t#e fa'te't "o-!n"
F t#e 'e"ment eco$e$ a CAGR of &+.; .e cent $u!n" t#e .e!o$ F<;1)F<11.
Ot#e 'u()'ecto' -!t# #!"# "o-t# ate' !nclu$e "em' an$ Ae-elle% an$
c#em!cal'8 -#!c# "e- at a ate of 1?.+ .e cent an$ 10., .e cent
e'.ect!9el%.
W!t#!n en"!nee!n" "oo$'8 tan'.ot eBu!.ment le$ t#e f!el$ -!t# a CAGR of ,:
.e
cent =F<;1)F<1;>8 follo-e$ (% electon!c "oo$' =&: .e cent> an$
mac#!ne% an$
!n'tument' =&& .e cent>. In t#e c#em!cal' 'u()'ecto8 "o-t# !n e6.ot' -a'

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 1;

.....
.!ma!l% le$ (% .#amaceut!cal' F e6.ot' o'e 1?.; .e cent
$u!n" t#e 'tate$
.e!o$.

E6#!(!t 1;
En"!nee!n" "oo$' e6.ot'
1;
&;
,;
:;
5;
+;
0;
?;
):;
)&;
;
&;
:;
+;
?;
1;;
;
F<;5 F<;+ F<;0 F<;? F<;5 F<1; F<11
Value =USD (!ll!on> Go-t# ) !"#t a6!' =H>


E6#!(!t 11
C#em!cal' an$ elate$ .o$uct' e6.ot'
1;
15
&;
&5
,;
,5
;
5
;
5
1;
15
&;
&5
,;
,5
F<;5 F<;+ F<;0 F<;? F<;5 F<1; F<11
Value =USD (!ll!on> Go-t# ) !"#t a6!' =H>



.....
&.& T#e ma!n e6.ot ma7et': US8 We'ten Euo.e8 an$ t#e M!$$le Ea't

T#e ma!n e6.ot ma7et fo In$!an manufactu!n" "oo$' -a' t#e US an$ We'ten
Euo.e. W!t#!n We'ten Euo.e8 Geman% an$ U4 ae t-o of t#e mo't !m.otant
e6.ot ma7et'. T#e M!$$le Ea't !' al'o a 7e% $e't!nat!on fo In$!an "oo$' -!t#
t#e UAE !n .at!cula a maAo ma7et fo In$!an "em' an$ Ae-elle%8 en"!nee!n"
"oo$' an$ c#em!cal'. T#e follo-!n" e6#!(!t' #!"#l!"#t t#e ma!n ma7et' fo
$!ffeent In$!an manufactu!n" .o$uct' =!n F<11>.

E6#!(!t 1&
Rea$%ma$e "ament' =e6.ot '#ae (% count%L F<11>
=.e cent>
U.S.A
U.4.
Geman%
U.A.E.
Fance
Net#elan$'
Ital%
Cana$a
Ca.an
Ru''!a
Ot#e'
&5.:
&0.0
;.&
1.& &.1
11.,
,.+
,.?
5.: +.;
5.,

Souce: D!ectoate Geneal of Commec!al Intell!"ence
an$ Stat!'t!c'8 Aanca Re'eac#

E6#!(!t 1,
C#em!cal' an$ all!e$ 'ecto' =e6.ot '#ae (% count%L F<11>
=.e cent>
U.S.A
C#!na
Geman%
U.4.
Net#elan$'
U.A.E.
3aG!l
Ru''!a
Ital%
1on" 4on"
Ot#e'
1+.?
:.5
,.5
,.1
,.; 55.:
&.0
&.5
&.&
1.?
;.:

Stat!'t!c'8 Aanca Re'eac# In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 1&

.....
E6#!(!t 1:
En"!nee!n" "oo$' =e6.ot '#ae (% count%L F<11>
=.e cent>
U.S.A
U.A.E.
S!n"a.oe
Geman%
U.4.
S! 2an7a
Mala%'!a
Ital%
3an"la$e'#
1on" 4on"
Ot#e'
1;.;
5.5
:.,
,.5
&.5
&.?
&.0
+,.0
;.5
&.5
;.?

Souce: D!ectoate Geneal of Commec!al
Intell!"ence an$ Stat!'t!c'8 Aanca Re'eac#

E6#!(!t 15
Gem' an$ Ae-elle% =e6.ot '#ae (% count%L F<11>
=.e cent>
U.A.E.
1on" 4on"
U.S.A
3el"!um
I'ael
S!n"a.oe
T#a!lan$
U.4.
Ca.an
S-!tGelan$
Ot#e'
;.? ;.:
;.?
1.1 &.:
+.+
1.1
+.&
:,.,
1,.,
&:.;

Souce: D!ectoate Geneal of Commec!al
Intell!"ence an$ Stat!'t!c'8 Aanca Re'eac#

,. INCREASING COM/ETITIVENESS OF INDIAN MANUFACTURING

,.1 Secto #a' an e$"e !n t#e "lo(al aena
In$!a an7' 'econ$ !n t#e -ol$ a' .e t#e &;1; Glo(al Manufactu!n"
Com.et!t!9ene'' In$e6 =GMCI>8 .e.ae$ (% t#e US Counc!l on Com.et!t!9ene''8
an$ Delo!tte. T#e !n$e6 facto' !n ma7et $%nam!c' a' -ell a' .ol!c% !''ue'
!nfluenc!n" t#e 'ecto. In$!a !' a#ea$ of maAo $e9elo.e$ an$ eme"!n" econom!e' l!7e t#e US Sout# 4oea 3aG!l an$ Ca.an 2oo7!n" a#ea$ In$!a '
com.et!t!9ene'' -!ll !ncea'e fut#e -!t# !t' !n$e6 'coe 'et to !m.o9e to
5.;1
=out of 1;> !n t#e ne6t f!9e %ea' fom t#e &;1; f!"ue of ?.15. In tem' of an78
t#e

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 1,

.....
count% !' 'et to ma!nta!n !t' "lo(al 'econ$ an7 o9e t#e 'ame .e!o$. T#e ne6t
e6#!(!t' #!"#l!"#t 'e"ment' of t#e GMCI an$ an7' a''!"ne$ to nat!on' !n &;1;.

E6#!(!t 1+
D!9e' of t#e GMCI !n $e'cen$!n" o$e of -e!"#t
Talent)$!9en !nno9at!on
Co't of la(ou an$ mate!al'
Ene"% co't of .ol!c!e'
Econom!c8 ta$e8 f!nanc!al an$ ta6 '%'tem'
Kual!t% of .#%'!cal !nfa'tuctue
Go9enment !n9e'tment' !n manufactu!n" an$ !nno9at!on
2e"al an$ e"ulato% '%'tem
Su..l!e net-o7
2ocal (u'!ne'' $%nam!c'
Kual!t% an$ a9a!la(!l!t% of #ealt#cae
Souce: Delo!tte an$ US Counc!l on Com.et!t!9ene''8 Aanca Re'eac#

E6#!(!t &&
&;1; GMCI F In$!a com.ae$ -!t# ot#e'
Cuent
Ran7 Count% In$e6 Scoe Ran7 afte 5 <ea'
1 C#!na 1;.;; 1
& I n$ !a ?.15 &
, Re. of
4oea +.05 ,
: USA 5.?: 5
5 3aG!l 5.:1 :
+ Ca.an 5.11 0
0 Me6!co :.?: +
? Geman% :.?; ?
5 S!n"a.oe :.+5 11
1; /olan$ :.:5 5
Ne- a$$P T#a!lan$ ) 1;
Souce: Delo!tte an$ US Counc!l on Com.et!t!9ene''8
Aanca Re'eac#
PNe- a$$!t!on amon" t#e to. 1; count!e'. Cuentl%
T#a!lan$ !' an7e$ 1&t# -!t# an !n$e6 'coe of :.10

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 1:

.....
Kual!t% 'tan$a$' !n In$!an manufactu!n" #a9e !m.o9e$ '!"n!f!cantl% an$
t#e
'ecto !' no- -ell 7no-n "lo(all% fo !t' #!"# Bual!t%. O9e t#e la't $eca$e8
In$!an
manufactue' e6ten'!9el% a$o.te$ t#e Total Kual!t% Mana"ement =TKM>
a..oac#. A' a e'ult8 t#e 'ecto no- enAo%' co't a$9anta"e !n t#e an"e of 15)&;
.e cent com.ae$ to t#e (e"!nn!n" of t#e $eca$e. On"o!n" an$ ne- (e't
.act!ce' -!ll cont!nue to (enef!t t#e 'ecto !n t#e me$!um)tem t#ou"#
t#e!
!nfluence on (ot# t#e to. l!ne an$ t#e (ottom l!ne.

Mean-#!le8 In$!a !' cuentl% 'econ$ onl% to Ca.an !n #o't!n" com.an!e'
a-a$e$
fo Bual!t% e6cellence. T#e'e !nclu$e &1 com.an!e' -#o #a9e (een a-a$e$
t#e
Dem!n" E6cellence A-a$ an$ 15, com.an!e' -!t# t#e Total /o$uct!9e
Ma!ntenance =T/M> E6cellence A-a$ (% t#e Ca.an In't!tute of /lant
Ma!ntenance
=CI/M>. Al'o8 of t#e 1+5 In$!an com.an!e' t#at #a9e (een a-a$e$ -!t#
t#e CII)
E6!m 3an7 A-a$' fo 3u'!ne'' E6cellence8 aoun$ ?; .e cent ae !n t#e
manufactu!n" 'ecto. It !' to (e note$ t#at t#!' a-a$ !' "lo(all% acce.te$ a' one
eBu!9alent to t#e Euo.ean Foun$at!on of Kual!t% A-a$.

,.& Encoua"!n" e'eac# an$ fo'te!n" !nno9at!on

Inno9at!on F (e !t .o$uct o .oce'' F #a' ece!9e$ a (oo't $ue to "o-!n" RMD
!n t#e count% Alt#ou"# le'' t#an eme"!n" ma7et .ee' l!7e C#!na In$!a '
'#ae !n "lo(al RMD '.en$!n" #a' (een !ncea'!n" In &;11 fo e6am.le In$!a '
RMD '.en$!n" !' e't!mate$ to #a9e ma$e u. &.? .e cent of t#e -ol$ total8
#!"#e t#an t#e &.+ .e cent '#ae t#e %ea (efoe. T#e Intellectual /o.et% =I/>
a..l!cat!on' e"!'tee$ !n In$!a ae al'o on t#e !'e. O9e F<;+)F<1;8 I/
a..l!cat!on' f!lle$ fo .atent' o'e to ,:8&?0 fom &:85;5L fo $e'!"n' t#e !'e -a'
to +8;5& fom :85:5. Intee't!n"l%8 t#e .atentee -!t# t#e la"e't num(e of I/
a..l!cat!on' fom In$!a !n F<1; -a' fom t#e manufactu!n" 'ecto F 1!n$u'tan
Un!le9e =FMCG 'ecto8 1;, a..l!cat!on'>. /#amaceut!cal com.an!e' -ee not fa
(e#!n$ F t#e to. f!9e In$!an f!m' f!le$ 11& I/ a..l!cat!on'.

E6#!(!t 1?
RMD '.en$!n" !n In$!a =USD (!ll!on>
:1.,

,?.;
,&.5
&?.1
&;.;
&5.;
,;.;
,5.;
:;.;
:5.; &;;5 &;1; &;11E &;1&E
Souce: 3attelle8 &;1& RMD '.en$!n" e't!mate (% 3attelle8 &;1&
RMD Fun$!n" Foeca't8 Aanca Re'eac# In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 15

EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE.........

E6#!(!t 15
In$!an .#amaceut!cal .atent a..l!cat!on' =F<1;>
Ran(a6%
,0
Woc7#a$t
,,
C!.la &1
1eteo Re'eac# 11
Conce.t Me$!cal Re'eac# 1;
; 5 1; 15 &; &5 ,; ,5 :;

Souce: Off!ce of t#e Contolle Geneal of /atent'8 De'!"n' an$
Ta$ema7' &;;5F1; annual e.ot8 com.an% annual e.ot'8 Aanca Re'eac#

3ot# t#e "o9enment a' -ell a' .!9ate .la%e' !n t#e In$!an
manufactu!n"
'ecto eal!'e t#at RMD !' a 7e% to t#e! "lo(al am(!t!on'. Con'eBuentl%8
!n9e'tment' to-a$' e'eac# #a9e (een '.ee$e$ u.. G!9en (elo- ae
'ome
nota(le !n9e'tment' !n t#e f!el$.

E6#!(!t &;
Recent !n9e'tment' !n RMD (% .la%e' =(ot# .u(l!c 'ecto an$ .!9ate 'ecto>
Date RMD !n9e'tment =!m.lemente$ an$Jo announce$>
Ma%)11 ISR O announce' 'ett!n" u. of '.acecaft RMD cente !n
C#!ta$u"a
A.)11 1!t a c#! to !n9e't USD:;; m!ll!on to 'et u. an RMD cent e !n
3an"aloe
Au")1; Al' t o m eama7' USD,5 m!ll!on to e'ta(l!'# RMD cent e fo
.o-e .o$uct'
Can)1; 1ua-e ! allocate' USD5;; m!ll!on !n9e'tment fo RMD cente
Oct);5 1% un$ a! 'et' u. RM D cente at an !n9e'tment of USD&5 m!ll!on
Cun);5 2G Ele ct o n!c' $ou(le' !t' annual RM D !n9e't ment out la% t o
USD?, m!ll!on

Souce: In$!a Electon!c Ne-'8 Mone%contol8 Econom!c T!me'8 A..l!ancema"aG!ne.com8
3u'!ne'' Stan$a$8 com.an% -e('!te'8 Aanca Re'eac#
ISRO: In$!a S.ace Re'eac# O"an!'at!on

T#e In$!an manufactu!n" 'ecto !' no- e.lete -!t# !nno9at!on' t#at #a9e
(ecome out'tan$!n" !llu'tat!on' "lo(all%. T#ou"# e6am.le' a(oun$8 t#e one
e"a$!n" !nto$uct!on of a ne- .oce'' (% Ma#!n$a M Ma#!n$a !n
$e9elo.ment
of a ne- 9e#!cle !' note-ot#%. MMM !nto$uce$ a ne- .oce'' =Inte"ate$
De'!"n
an$ Manufactu!n"> -#!le $e9elo.!n" !t' mult!)ut!l!t% 9e#!cle TSco.!o T#e
.oce'' !n9ol9e$ co'')funct!onal team' =!nclu$!n" T!e I 'u..l!e'> -#o
colla(oate$ e6ten'!9el% !n t#e .o$uct $e9elo.ment .oce'' F $e'!"n!n"8 te't!n"

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 1+

.....

an$ ma7et!n". T#e e'ult -a' a '#ote .o$uct $e9elo.ment c%cle an$ MMM
-a' a(le to oll out t#e TSco.!o on an !n9e'tment of USD1&; m!ll!on !n t#e
.oAect F one)f!ft# of t#e a9ea"e '.ent on '!m!la .oAect'
"lo(all%.

,., Go9enment 'u..ot fo $e9elo.!n" a '7!lle$ -o7foce

In$!a a$$' 5;; /#D' &;; ;;; en"!nee' ,;; ;;; non en"!nee!n"
.o't"a$uate'8 an$ &81;;8;;; ot#e "a$uate' to !t' -o7foce annuall%. T#!'
en'ue' t#e a9a!la(!l!t% of a .ool of '7!lle$ man.o-e to 'u..ot t#e nat!on '
!n$u't!al $e9elo.ment. 1o-e9e8 !n$u't% 'ouce' #a9e often e6.e''e$ concen
e"a$!n" a .otent!al '#ota"e of talent8 "!9en t#e fa't .ace of econom!c "o-t#
!n
t#e count%. T#ee ae al'o concen' .eta!n!n" to em.lo%a(!l!t% -!t# a ecent CII
e't!mate1 .utt!n" t#e '#ae of em.lo%a(le "a$uate' !n t#e count% at ,5.5
.e
cent. Ta7!n" co"n!Gance of 'uc# concen'8 t#e "o9enment #a' acte$ !n a
.oact!9e manne. T#e num(e of tec#n!cal !n't!tute' =!nclu$!n" IIT' an$ NIT'>
#a'
(een !ncea'e$ an$ foe!"n $!ect !n9e'tment !n e$ucat!on encoua"e$.

T#e "o9enment al'o launc#e$ t#e Tec#n!cal E$ucat!on Kual!t%
Im.o9ement
/o"amme =TEKI/> to-a$' ma7!n" t#e tec#n!cal e$ucat!on '%'tem moe
e'.on'!9e to nat!onal a' -ell a' "lo(al econom!c an$ tec#nolo"!cal
$e9elo.ment'. T#e TEKI/ -a' outl!ne$ a' a 1;)1& %ea .o"am to (e
!m.lemente$ !n , .#a'e' -!t# t#e a''!'tance of t#e Wol$ 3an7. T#e
cental
"o9enment #a' announce$ t#e launc# of /#a'e II of t#e .o"am -!t# an
!n9e'tment -ot# USD515 m!ll!on. T#!' amount' to &+ .e cent of total
fun$!n"
-!t# t#e e't com!n" fom t#e Wol$ 3an7 =0& .e cent>8 'tate "o9enment'
=&0
.e cent>8 an$ una!$e$ !n't!tut!on' =1 .e cent>. T#e "o9enment #a' al'o 'et u. a
Nat!onal S7!ll' De9elo.ment Counc!l to encoua"e .!9ate .at!c!.at!onJ
mana"ement of In$u't!al Ta!n!n" In't!tute'.

:. CURRENT TRENDS IN INDIAN MANUFACTURING

:.1 In$!a eme"!n" a' a "lo(al manufactu!n" #u(
T#e .oce'' of e9ol9!n" a' a "lo(al manufactu!n" #u(
#a' alea$% 'tate$ !n
In$!a -!t# "lo(al manufactu!n" maAo' 'ett!n" u. '#o. !n
In$!a alon" -!t# t#e!
$ome't!c counte.at'. A 'ton" .!.el!ne of e6!'t!n" .oAect'
fom (ot# "lo(al an$
$ome't!c f!m' #!"#l!"#t' t#e "o-!n" !m.otance of t#e
count% a' a ma7et a'
-ell a' a .o$uct!on #u(. Some of t#e maAo !n9e'tment'
#a9e (een #!"#l!"#te$
!n t#e ta(le (elo-:

1A 'tu$% con$ucte$ !n &;;? elea'e$ $u!n" *S7!ll' Wol$ &;;?* 'umm!t o"an!Ge$ (% t#e CII
an$ A'.!e8 a #uman ca.!tal mana"ement f!m !n In$!a In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 10

.....
E6#!(!t &1
Intenat!onal manufactu!n" com.an!e' an$ In$!a
Com.an% In9e'tment' !n In$!a
Automot!9e' an$ auto com.onent'
/lan' to !ncea'e !t' auto com.onent' 'ouc!n"
fom In$!a fom USD1; m!ll!on !n &;1; to
USD:; m!ll!on !n &;1&
N!''an Moto 2t$
Announce$ !n9e'tment of USD +1.5 m!ll!on fo a
.o$uct!on (a'e fo Vol9o*' me$!um)$ut%
en"!ne
VE Commec!al Ve#!cle'
=VECV>
Manufactue' !t' mo$el U!1;V e6clu'!9el% !n In$!a
1%un$a! ='econ$ la"e't manufactu!n" (a'e afte
4oea> an$ e6.ot' !t to t#e -ol$
Fo$ S#!ft!n" to In$!a fo en"!ne manufactu!n" (a'e
C#o'e In$!a fo a manufactu!n" fac!l!t% to 'e9e
t#e In$!an ma7et an$ e6.ot' $e't!ne$ fo
Ne.al8 S! 2an7a8 3uma an$ 3an"la$e'#
S7o$a Auto
Electon!c'
Manufactu!n" fac!l!t% !n In$!a e6.ot' mo(!le
#an$'et' to Not# Ame!ca8 E uo.e8 M!$$le
Ea't8 A'!a8 Au'tal!a an$ Ne- Dealan$
No7!a
/lan' to 'et u. a mo(!le manufactu!n" fac!l!t%
to 'e9e t#e $ome't!c ma7et an$ Euo.e an$
t#e Common-ealt# of In$e.en$ent State'
2G
Announce$ !n9e'tment of USD 1;; m!ll!on fo
'ett!n" u. manufactu!n" .lant !n C#enna!8 In$!a
Sam'un"
Ot#e'
A!(u' In$u't!e' /lan' to 'et u. manufactu!n" (a'e !n In$!a
-!t#!n ,): %ea'
/lan' to 'et u. .o-e eBu!.ment
manufactu!n" un!t !n In$!a
Doo'an 1ea9% In$u't!e' M
Con'tuct!on Co
1a' outl!ne$ In$!a a' !t' u.com!n"
manufactu!n" #u(
Cum!n'
2u6u% leat#e "oo$' (an$ ) 2ou!' Vu!ttonL
.em!um (an$ fo l!nen an$ #ome $Wco F
1!"#)en$ fa'#!on (an$'
Fette ae con'!$e!n" In$!a fo t#e!
manufactu!n" fac!l!t!e'

Souce: Com.an% 'ouce'8 ne-' at!cle'8 Aanca Re'eac# In$!an Manufactu!n": O9e9!e- an$ /o'.ect' 1?

.....
:.& In$!an manufactu!n" "o-t# out'#!n!n" .ee' !n t#e 3RIC'

Cuent ten$' fo t#!' %ea 'u""e't t#at "o-t# !n t#e manufactu!n" 'ecto !n
In$!a !' out.ac!n" t#at of .ee' !n t#e 3RIC'. Alt#ou"# a num(e of .o$uct!on
!n$!ce' ae u'e$ to mea'ue !n$u't!al "o-t# !n t#e'e nat!on'8 t#e 1S3C
Manufactu!n" /uc#a'!n" Mana"e' In$e6 =/MITM> !' u'e$ #ee fo com.a!'on.
T#e 1S3C manufactu!n" /MI fo In$!a !nco.oate' f!9e facto' F ne- o$e'8
out.ut em.lo%ment 'u..l!e' $el!9e% t!me an$ 'toc7 of !tem' F !n o$e to
"au"e t#e .ace an$ $!ect!on of act!9!t% !n t#e manufactu!n" 'ecto of t#e count%.
An% f!"ue a(o9e 5; fo t#e !n$e6 !n$!cate' e6.an'!on -#!le an%t#!n" (elo- !t
$enote' a contact!on.
Data fo &;1& e9eal' t#at t#e !n$e6 fo t#e In$!an manufactu!n" 'ecto #a' (een
#!"#e t#an t#o'e fo ot#e 3RIC nat!on'8 t#ee(% !n$!cat!n" a fa'te .ace of
e6.an'!on fo t#e 'ecto !n In$!a In fact In$!a ' manufactu!n" /MI fo Mac#
&;1& 'too$ at 5:.08 !n$!cat!n" an e6.an'!on. T#!' -a' !n 'ta7 conta't to
contact!on !n C#!na =:?.,>8 -#!le manufactu!n" !n Ru''!a =5;.?> an$ 3aG!l =51.1>
"e- at a elat!9el% 'lo-e .ace fo t#e 'ame mont#. Muc# of t#!' $!ffeence
coul$ (e (ecau'e of t#e fact t#at t#e manufactu!n" 'ecto of count!e' 'uc# a'
C#!na ' ae #ea9!l% "eae$ to-a$' e6.ot' W!t# 7e% $e't!nat!on' l!7e t#e US an$
We'ten Euo.e fac!n" ece''!ona% .e''ue' once a"a!n8 $eman$
fun$amental' fo C#!na ' e6.ote' #a9e -ea7ene$ In conta't !n In$!a
$ome't!c con'um.t!on !' t#e 7e% $!9e of t#e manufactu!n" 'ecto an$
-!t#
'ton" GD/ "o-t# l!7el% to cont!nue8 $eman$ fun$amental' ema!n 'ton".

E6#!(!t &&
1S3C Manufactu!n" /MI fo 3RIC econom!e'
::
:+
:?
5;
5&
5:
5+
5?
+;
Se.)11 Oct)11 No9)11 Dec)11 Can)1& Fe()1& Ma)1&

In$!a C#!na 3aG!l Ru''!a

Souce: 1S3C /MI $ata8 Aanca Re'eac#

.....
E6#!(!t &,
GD/ "o-t# F com.a!'on amon" 7e% econom!e'
&K11 ,K11 :K11 1K1&
US 1., 1.? ,.; &.&
U4 ;.+ ;.5 ;.5 ;.;
EuoGone 1.+ 1.: ;.0 );.,P
In$!a 0.0 +.5 +.1 +.5O
C#!na 5.5 5.1 ?.5 ?.1
Souce: 3loom(e"8 R3I8 Aanca Re'eac#
P In$!cate' 3loom(e" con'en'u' e't!mate O !n$!cate' R3I
e't!mate

:., Intee't!n" ten$' !n 7e% manufactu!n" 'u()'ecto'

Com.ute': In$!a !' t#e fa'te't "o-!n" IT '%'tem' an$ #a$-ae ma7et
!n t#e A'!a)/ac!f!c e"!on
Commun!cat!on an$ 3oa$ca't!n" EBu!.ment': In$!a !' 'et to o9eta7e
t#e US a' t#e -ol$ ' la"e't DT1 ma7et (% &;1&
Automot!9e: Tata Moto' #a' (ou"#t out t#e -ol$ ' c#ea.e't ca F t#e
Tata Nano
Altenat!9e fuel $!'t!(ut!on: T#e CNG $!'t!(ut!on net-o7 !' .oAecte$ to
'.ea$ to &5; c!t!e' !n In$!a (% &;1? fom ,; c!t!e' !n &;;5
Cement .o$uct!on: MaAo In$!an cement manufactue' ae !ncea'!n"l%
'#!ft!n" to altenate 'ouce' of ene"% =e'.ec!all% (!o ene"%> to f!e t#e!
7!ln' an$ t#ee(% cut ene"% co't'
Te6t!le': T#e 'ecto 'a- !n9e'tment' -ot# USD:, (!ll!on !n F<1; un$e
t#e "o9enment ' Tec#nolo"% U."a$at!on Fun$ Sc#eme =TUFS> -#ee!n
'.!nn!n" accounte$ fo la"e't '#ae of total !n9e'tment' at ,, .e cent
Elect!cal Mac#!ne%: /la%e' !n t#!' 'ecto ae fom!n" 'tate"!c all!ance'
an$ t!e)u.' -!t# tec#nolo"% 'u..l!e' to u."a$e ca.a(!l!t!e'
En"!nee!n": Moe t#an &85;; f!m' !n t#e en"!nee!n" 'ecto #a9e t#e
ISO 5;;; acce$!tat!on

5. FACTORS DRIVING T1E INDIAN MANUFACTURING GROWT1 STOR<

5.1 Fot!f!cat!on !n $eman$ ena(l!n" 'u'ta!na(le "o-t# of 'ecto

Dome't!c $eman$ fun$amental' fo t#e manufactu!n" 'ecto !n In$!a #a9e ne9e
(een o'!e a' !t !' no-. Ston" "o-t# !n .e)ca.!ta !ncome8 a %oun" an$ "o-!n"
.o.ulat!on8 a.!$ u(an!'at!on8 an$ c#an"!n" l!fe't%le' -!ll en'ue t#at $eman$
"o-t# -!ll 7ee. t#e manufactu!n" 'ecto (u'% fo t#e com!n" $eca$e'. /e)
ca.!ta nom!nal GD/8 fo e6am.le8 !' 'late$ to e6.an$ at a CAGR of +.5 .e cent
o9e &;1;)15. Deman$).u'# fom !ncea'!n" !ncome' -!ll (e au"mente$ (% a
!'!n" m!$$le cla'' an$ a %oun" .o.ulat!on8 -#!c# cuentl% #a' a me$!an a"e of &5 %ea' Acco$!n" to Mc4!n'e% In$!a ' m!$$le cla'' !' l!7el% to e6.an$ 1& In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &;

.....
t!me' =to a(out 5?, m!ll!on .eo.le> o9e t#e .e!o$ &;;5)&5. Du!n" t#!' t!me8
u(an!'at!on !' l!7el% to !ncea'e to ,? .e cent fom &5 .e cent. A' a e'ult of
t#e'e 9a!e$ facto' In$!a -!ll eme"e a' t#e -ol$ ' f!ft# la"e't con'ume
ma7et (% &;&5 -!t# a""e"ate con'um.t!on !n t#e count% 'late$ to !'e (%
a(out fou t!me' o9e &;;5 )&5. A 'mall e6am.le #ee -!ll (e't !llu'tate t#e
e9ol9!n" natue of con'ume .efeence' !n In$!a. 1ale% Da9!$'on8 t#e !con!c US
(!7e ma7e8 announce$ !n No9em(e &;1;8 !t' .lan fo 'ett!n" u. a un!t !n In$!a.
Intee't!n"l% t#!' -!ll (e t#e com.an% ' 'econ$ un!t out'!$e t#e US

E6#!(!t &:
Income cate"o!e' F c#an"e' e6.ecte$ !n In$!a
See7e': Annual
million
!ncome
households
INR&;;8;;;)
5;;8;;;
A'.!e': Annual
!ncome
St!9e': Annual
INR5;8;;;)
!ncome
&;;8;;;
INR5;;8;;;)
18;;;8;;;
De.!9e$ annual
!ncome
Glo(al': Annual
RINR5;8;;;
1;
&;
,;
:;
5;
+;
0;
!ncome
QINR18;;;8;;;
;
&;;5 &;1; &;15 &;&; &;&5
St!9e' See7e' De.!9e$ A'.!e' Glo(al'

Souce: Mc4!n'e% Kuatel% Re.ot8 Aanca Re'eac#

E6#!(!t &5
/e)ca.!ta nom!nal GD/ =USD>
C AGR : +. 5 H
CAG R: + .5 H
18;;;
185;;
&8;;;
5;;
;
155; 1555 &;;; &;;5 &;1; &;15F

Souce: IMF WEO Data(a'e = A.!l &;11>8
Aanca Re'eac#

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &1

.....
Deman$ fo In$!a ' manufactu!n" e6.ot'& 'o fa #a' (een le$ (% a$9ance$
econom!e'8 con'um!n" &5 .e cent of total .o$uct' e6.ote$ fom t#e count%.
T#e US an$ We'ten Euo.e ae t#e 7e% $e't!nat!on' -!t#!n a$9ance$ econom!e'.
1o-e9e8 t#!' ten$ !' l!7el% to c#an"e a' t#e "o-t# !n eme"!n" econom!e' of
A'!a8 Af!ca an$ t#e M!$$le Ea't !' e6.ecte$ to out.ace t# at of $e9elo.e$ ma7et'.
Alea$% 'ome c#an"e !' 9!'!(le8 -!t# t#e M!$$le Ea't eme"!n" a' a 7e% ma7et
fo a num(e of In$!an .o$uct' l!7e en"!nee!n" "oo$'8 ea$%ma$e "ament'8
an$ "em' an$ Ae-elle%. Clo'e ta$e t!e' -!t# ASEAN nat!on'8 C#!na8 2at!n
Ame!ca8 an$ Af!ca !n t#e com!n" $eca$e -!ll !nten'!f% t#e a(o9e ten$.

E6#!(!t &+
Manufactue$ "oo$' e6.ot' (% $e't!nat!on =F<11>
=.e cent>
A$9ance$ econom!e'
&5H
Ne-l% !n$u't!al!Ge$
A'!an econom!e'
:1H
Eme"!n" an$
$e9elo.!n" econom!e'
?H
&&H
Ot#e'

Note: Ot#e' !' t#e total of e6.ot' not cla''!f!e$ (% count%

E6#!(!t &0
Econom% "o-t# ate (% count% "ou.
1H
&H
,H
:H
5H
+H
0H
?H
5H
&;1; &;11E &;1&E &;1,F &;1:F &;15F &;1+F
A$9ance$ econom!e'
Ne-l% !n$u't!al!Ge$ A'!an econom!e'
Eme"!n" an$ $e9elo.!n" econom!e'

Souce: IMF ) Wol$ Econom!c Outloo7 Data(a'e8 A.!l &;118
Aanca Re'eac#. Note: Count% "ou.' a' cla''!f!e$ (% IMF

&A .o6% fo manufactu!n" "oo$' e6.ot' u'!n" 'e"ment' t#at ma$e u. 0?.5 .e cent of t#e total $u!n"
F<1; =leat#e an$ manufactue'8 "em' an$ Ae-elle%8 en"!nee!n" "oo$'8 cotton %an8 fa(!c'8 ma$e u.'
an$ ea$%ma$e "ament'> In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &&

.....
5.& Tec#nolo"% $e9elo.ment !n!t!at!9e'

Tec#nolo"% !' t#e 7e% to e6.an$!n" t#e manufactu!n" (a'e !n t#e count% an$
!ncea'!n" In$!a ' .e'ence !n t#e "lo(al ma7et T#e "o9enment eco"n!Ge' t#!'
fact an$ #a' t#eefoe .o9!$e$ a num(e of !ncent!9e' to fac!l!tate tec#nol
o"%
$e9elo.ment.

/#amaceut!cal': No $ut% fo u."a$!n" tec#nolo"% t#ou"# t#e E6.ot
/omot!on Ca.!tal Goo$' Sc#eme
Te6t!le': A ma6!mum of USD:,? m!ll!on of 'u('!$!e' on !n9e'tment of
USD1;.: (!ll!on aco'' t#e 9alue c#a!n un$e t#e e9!'e$ Tec#nolo"%
U."a$at!on Fun$ Sc#eme
Foo$ .oce''!n": No !m.ot $ut% on ca.!tal "oo$' fo 1;; .e cent e6.ot
o!ente$ .oce''!n" un!t'

T#e "o9enment #a' al'o launc#e$ a num(e of 'c#eme' fo tec#nolo"%
$e9elo.ment !n m!co8 'mall an$ me$!um ente.!'e' =MSME'>. T#e'e !nclu$e )

2ean Manufactu!n" Com.et!t!9ene'' Sc#eme: Im.lemente$ un$e t#e
/u(l!c /!9ate /atne'#!. =///> mo$e -!t# :& 2ean Con'ultant' 8 t#e
.oAect a!m' to e$uce manufactu!n" -a'te8 an$ !ncea'e .o$uct!9!t%
an$ com.et!t!9ene''
De'!"n Cl!n!c Sc#eme: T#!' !' a .latfom to ena(le MSME ' to a9a!l
e6.et a$9!ce an$ co't effect!9e 'olut!on' to eal)t!me $e'!"n !''ue'. T#e
'c#eme !nclu$e' t-o .oAect' F De'!"n A-aene'' an$ De'!"n /oAect
Fun$!n"
Ma7et!n" A''!'tance an$ Tec#nolo"% U."a$at!on: T#e 'c#eme
focu'e' to u."a$e tec#nolo"% fo !ncea'!n" com.et!t!9ene'' !n
ma7et!n". Act!9!t!e' !nclu$e$ !n t#!' 'c#eme ae tec#nolo"% u."a$at!on
fo .ac7a"!n"8 com.et!t!on 'tu$!e'8 an$ $e9elo.ment of ma7et!n"
tec#n!Bue'
Tec#nolo"% an$ Kual!t% U."a$at!on: T#e 'c#eme a!m' to encoua"e
MSME' to a$o.t "lo(al 'tan$a$' 'o a' to !m.o9e t#e Bual!t% of "oo$'
.o$uce$

5., Encoua"!n" Foe!"n D!ect In9e'tment =FDI>

O9e t#e %ea'8 t#e !ncea'!n" attact!9ene'' of t#e In$!an ma7et #a' lue$
!n9e'to' fom aco'' t#e -ol$. T#e count% -a' amon" t#e to. f!9e
.efee$
$e't!nat!on' fo Foe!"n D!ect In9e'tment =FDI> fom A'!an8 Euo.ean an$
Not#
Ame!can !n9e'to' a' .e T#e &;1; A.T. 4eane% FDI Conf!$ence In$e6.
In T#e
&;1& A.T. 4eane% FDI Conf!$ence In$e68 In$!a !' .o'!t!one$ 'econ$ !n t#e
-ol$
-!t# man% $e9elo.e$ an$ eme"!n" count!e' la""!n" (e#!n$.

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &,

.....
E6#!(!t &?
&;1& FDI Conf!$ence In$e6 ) To. 1; count!e'
Ran7 Count%
1 C#!na
& In$!a
, 3aG!l
: Un!te$ State' of Ame!ca =USA>
5 Geman%
+ Au'tal!a
0 S!n"a.oe
? Un!te$ 4!n"$om
5 In$one'!a
1; Mala%'!a

Souce: A.T. 4eane%8 Aanca Re'eac#

E6#!(!t &5
To. 1; e"!onal .efeence of !n9e'to'
Not# Ame!can
!n9e'to'
Ran7 A'!an !n9e'to' Euo.ean
!n9e'to'
1 C#!na C#!na USA
& V!et nam USA C#!na
, USA I n$ !a In$ !a
: I n$ !a Geman% 3aG!l
5 1o" 4on" 3aG!l Me6!co
+ In$one'!a Roman!a /olan$
0 3aG!l Ital% U4
? Au'tal!a Fance Cana$a
5 T#a!lan$ /olan$ Au'tal!a
1; UAE Ru''!a Geman%

At a moe m!co le9el8 FDI !nflo-' !nto 7e% 'u()'ecto'
of manufactu!n" #a9e
al'o .o'te$ 'ton" "o-t#. T#e e6#!(!t' (elo- #!"#l!"#t
cumulat!9e FDI !nflo-'
!nto 7e% 'ecto' of t#e In$!an econom% an$ t#e! '#ae' !n
o9eall !nflo-'.

Souce: A.T. 4eane%8 Aanca Re'eac#

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &:

.....
E6#!(!t ,;
Cumulat!9e FDI !nflo-' !nto 7e% 'ecto' =fom A. &;;;>
1;
1&
;
&
:
+
?
F<;? F<;5 F<1; F<11 F<1&X
Com.ute Soft-ae M 1a$-ae Telecommun!cat!on'P
1ou'!n" M Real E'tate Con'tuct!on Act!9!t!e'O
Automo(!le In$u't% /o-e

Souce: De.atment of In$u't!al /ol!c% M /omot!onL Aanca Re'eac#
P .a"!n"8 mo(!le8 (a'!c tele.#one 'e9!ce'L O!nclu$e' oa$' an$ #!"#-a%'L
X F<1& ) =A.!l ) Fe(>

E6#!(!t ,1
S#ae !n cumulat!9e FDI !nflo-' =A.&;;;)Fe(&;1&>
C#em!cal'
/etoleum M Natual "a'
Metallu"!cal In$u't!e'
Automot!9e
/o-e
1ou'!n" M Real e'tate
Com.ute'
Con'tuct!on
Telecommun!cat!on'
H
Se9!ce'
;H :H ?H 1&H 1+H &;H &:H

Souce: De.atment of In$u't!al /ol!c% M /omot!on M!n!'t% of Commece an$
In$u't%8 Aanca Re'eac#

In a (!$ to (oo't FDI e9en fut#e t#e "o9enment !''ue$ t#e ne- TCon'ol!$ate$
Foe!"n D!ect In9e'tment /ol!c% -#!c# came !nto effect fom A.!l 1 &;1;
Fut#e8 !n F<118 t#e "o9enment ea'e$ nom' fo !n9e'tment' (% foe!"n
com.an!e' t#at ae .e'ent !n In$!a t#ou"# a Ao!nt 9entue =CV> o a tec#n!cal
colla(oat!on. Acco$!n"l%, t#e foe!"n com.an% -!ll not #a9e to 'ee7 a Tno)
o(Aect!on cet!f!cate fom t#e In$!an .atne fo !n9e't!n" !n t#e 'ecto -#ee t#e
CV o.eate'. Acco$!n" to /!ce-ate#ou'eCoo.e'8 ea'e$ nom' -oul$
au"ment t#e conf!$ence of !n9e'to' -#o -!ll no lon"e eBu!e t#e! In$!an
.atne' a..o9al Con'eBuentl% !n9e'to' '!tt!n" on t#e '!$el!ne' ae e6.ecte$ to mo9e !n8 t#ee(% !ncea'!n" FDI !nflo-' !nto t#e count%.
,A' .e Go9enment of In$!aI' C!cula 1 of &;11


.....
5.: T#e Nat!onal Manufactu!n" Com.et!t!9ene'' Counc!l =NMCC>

To $e9elo. a co#eent 'tate"% fo $e9elo.!n" t#e manufactu!n" 'ecto8
t#e
"o9enment 'et u. t#e Nat!onal Manufactu!n" Com.et!t!9ene'' Counc!l
=NMCC>.
T#e ole of t#e NMCC !' to .o.o'e mea'ue' to !ncea'e t#e "lo(al
com.et!t!9ene'' of t#e 'ecto. Recentl%8 NMCC8 !n coo$!nat!on -!t# t#e
De.atment of In$u't!al /ol!c% an$ /omot!on8 an$ t#e /lann!n"
Comm!''!on8
#a' (een !n'tumental !n fam!n" t#e Nat!onal Manufactu!n" /ol!c% =NM/>.
4e%
o(Aect!9e' of t#e NM/ !nclu$e F

Ra!'e t#e manufactu!n" 'ecto ' cont!(ut!on to GD/ to &5 .e cent (%
&;&5 fom t#e cuent '#ae of 1+ .e cent
Encoua"e !n9e'tment' an$ com.et!t!9ene'' to ma7e t#e count% a "lo(al
manufactu!n" #u(
Dou(le em.lo%ment "eneat!on !n t#e 'ecto fom !t' cuent le9el'

In 7ee.!n" -!t# t#e o(Aect!9e' of t#e NMCC8 t#e "o9enment !' al'o
.lann!n" to
'et u. Nat!onal Manufactu!n" an$ In9e'tment Done' =NMID'> to
encoua"e
!n9e'tment' an$ t#ee(% (oo't t#e '#ae of manufactu!n" !n GD/ to &5 .e cent
(% &;&&. Acco$!n" to t#e /!me M!n!'te*' Off!ce =/MO>8 t#e NIMD' -!ll (e
me"a
!n9e'tment .oAect' !n9ol9!n" 'tate)of)t#e)at !nfa'tuctue. A.at fom t#e
a(o9e t#e "o9enment #a' al'o (een to%!n" -!t# ot#e .ol!c% mea'ue' to 'u..ot
manufactu!n" "o-t#. A.at fom encoua"!n" FDI8 ot#e mea'ue' to
$e9elo.
manufactu!n" !nclu$e f!'cal 'u..ot fo $e9elo.ment of !n$!"enou'
tec#nolo"%8
ta!n!n" .o"am' fo '7!ll $e9elo.ment8 an$ la(ou efom'.

+. O//ORTUNITIES IN INDIAN MANUFACTURING

+.1 A lucat!9e $ome't!c ma7et

T#e In$!an ma7et !n !t'elf offe' '!"n!f!cant "o-t# o..otun!t!e' to a -!$e
"amut
of !n$u't!e' !n t#e manufactu!n" 'ecto. Some of t#em #a9e (een
$!'cu''e$
(elo- F

/o-e eBu!.ment: De'.!te 'ton" econom!c "o-t# o9e t#e .a't $eca$e8 .o-e
con'um.t!on !n In$!a !' amon" t#e lo-e't !n t#e -ol$. Go-t# !n $eman$ cleal%
out.ace' .o-e "eneat!on "o-t#. W!t# econom!c act!9!t% e6.ecte$ to cont!nue
on a fa't).ace$ taAecto% !n t#e com!n" $eca$e' a' -ell8 t#e ten$ !' l!7el% to
cont!nue. Fo e6am.le8 ene"% '#otfall fo F<1& 'too$ at 1;., .e cent. 1o-e9e8
t#e "o9enment #a' not (een (l!n$ to t#e cuent .o-e 'cena!o !n t#e count%
an$ #a' eama7e$ .o-e "eneat!on a' a .!o!t% focu' aea. Un$e !t' f!9e)%ea
.lan'8 t#e "o9enment #a' announce$ .lan' to a$$ 55GW of .o-e "eneat!n"
ca.ac!t% (% &;1& an$ an a$$!t!onal 1;;GW (% &;10. T#e .o-e eBu!.ment !n$u't%
-!ll t#u' eme"e a' a #!"#)"o-t# o..otun!t%. At t#e 'ame t!me8 .ol!c!e' !nclu$!n" TT#e Elect!c!t% Act &;;, -#!c# $!$ a-a% -!t# l!cen'e' fo In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &+

.....
.o-e "eneat!on .oAect'8 an$ ot#e !ncent!9e' l!7e ta6 (enef!t'8 an$ .em!''!on
fo ta$!n" of .o-e -!ll ent#u'e t#e .!9ate 'ecto.

E6#!(!t ,&
/e)ca.!ta elect!c!t% con'um.t!on =&;;5>
Count% 7W# .e ca.!ta
Un!te$ State' 1&851:
Ca.an
08?15
Geman% +8005
Ru''!a +81,+
Un!te$ 4!n"$om 58+5&
Wol$ a9ea"e &8?;,
C#!na &8+,1
3aG!l &8&;+
Me6!co 185:,
In$one'!a 55;
501 In$!a
Souce: Wol$ 3an78 Aanca Re'eac#

E6#!(!t ,,
/e)ca.!ta cement con'um.t!on
In$!a
US
A'!a =e6)C#!na>
Ca.an
Wol$
EU
C#!na
; &;; :;; +;; ?;; 1;;; 1&;; 1:;;

Souce: In$!a(ull'8 Aanca Re'eac#

Con'tuct!on eBu!.ment an$ cement: T#e con'tuct!on eBu!.ment' 'ecto an$
cement -!ll (enef!t fom t#e !'e !n $eman$ fo #ou'!n" an$ commec!al eal
e'tate '.ace. W!t# !'!n" !ncome' an$ a.!$ u(an!'at!on #a' come 'ton" "o-t#
!n $eman$ fo #ou'!n" an$ t#!' !' l!7el% to acceleate (% :.&5 m!ll!on un!t' !n &;1:
fom &;1;. Ston" "o-t# !' al'o e6.ecte$ on t#e commec!al eal e'tate font
-!t# !'!n" $eman$ fo off!ce '.ace8 eta!l8 an$ #o'.!tal!t%. Con'eBuentl%8 t#e eal
e'tate 'ecto !' .oAecte$ to "o- to USD1&+ (!ll!on (% &;15 fom USD55.+ (!ll!on
!n &;1;. Con'tuct!on eBu!.ment an$ cement -!ll fut#e (enef!t fom a ene-e$
.ol!c% focu' on !nfa'tuctue. T#e "o9enment #a' eama7e$ USD51: (!ll!on of
!n9e'tment' un$e t#e 11t# /lan an$ a fut#e USD1 t!ll!on un$e t#e 1&t# /lan. In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &0

.....
Foo$ .oce''!n": In$!a !' amon" t#e -ol$ ' lea$!n" foo$ .o$uce' T#e count%
!' t#e la"e't .o$uce of m!l78 .ul'e' an$ tea !n t#e -ol$. W!t# !t' la"e
a"!cultue 'ecto t#e count% !' al'o t#e -ol$ ' 'econ$ )la"e't .o$uce of
fu!t' an$ 9e"eta(le'8 an$ t#e t#!$)la"e't f!'# .o$uce. 1o-e9e8 cuentl% onl%
+ .e cent of .e!'#a(le' !n t#e count% ae .oce''e$. T#e M!n!'t% of Foo$
/oce''!n" In$u't!e' =MF/I> e't!mate' t#!' to !ncea'e to &; .e cent (% &;15.
MF/I al'o e6.ect' 9alue a$$!t!on to !ncea'e fom &; .e cent to ,5 .e cent o9e
t#e 'ame .e!o$. On t#e (ac7 of !'!n" !ncome'8 a "o-!n" m!$$le cla''8 a.!$
u(an!'at!on8 an$ a %oun" .o.ulat!on8 .oce''e$ foo$ $eman$ !' .oAecte$ to
$ou(le (% &;&; fom cuent le9el'. T#e foo$ .oce''!n" 'ecto #a' an$ -!ll
cont!nue to (enef!t fom .ol!c% 'u..ot. T#e'e !nclu$e ea'!e ce$!t acce''8 focu'
on 'u..l%)c#a!n !nfa'tuctue8 an$ 'ett!n" u. of A"! E6.ot Done' an$ me"a
foo$ .a7'. Con'eBuentl%8 t#e 'ecto !' 'et to !n$uce !n9e'tment' -ot# USD&1.5
(!ll!on !n9e'tment (% &;15.

+.& Manufactu!n" off)'#o!n" an$ In$!a: An e6am.le fom auto com.onent'

In$!a !' eme"!n" a' a fa9ou!te $e't!nat!on fo "lo(al manufactue'. Foe!"n
com.an!e' #a9e (een attacte$ (% In$!a ' co't com.et!t!9ene'' !t' '7!lle$
-o7foce8 an$ fa9oua(le "o9enment .ol!c!e'. T#e (e't e6am.le of t#!' can
(e
foun$ !n t#e auto com.onent' 'ecto.

Due to a co't)effect!9e manufactu!n" (a'e8 t#e auto com.onent' 'ecto
!n In$!a 'a9e' 1;)&5 .e cent on o.eat!on' com.ae$ to .ee' !n Euo.e
an$ 2at!n Ame!ca
T#e 'ecto al'o #a' #!"# Bual!t% 'tan$a$'8 a fact (one out (% t#e
num(e of Bual!t% a-a$' -on (% f!m' F Total /o$uct!9e Ma!ntenance
=T/M> A-a$ =15 .la%e'>8 t#e Dem!n" A-a$ =11>8 an$ t#e Ca.an In't!tute
of /lant Ma!ntenance =CI/M> A-a$ =,>
Geate acce'' to 7e% automot!9e ma7et' l!7e t#e M!$$le Ea't an$
Euo.e

MaAo O!"!nal EBu!.ment Manufactue' =OEM'> ae 7een to ma7e In$!a
t#e!
'ouc!n" #u(. Recent !n9e'tment announcement' (ea te't!mon% to t#!'.

Vol7'-a"en: T#e Geman auto "!ant .lan' to !ncea'e In$!a ' '#ae !n
total "lo(al 'ouc!n" to 0; .e centL Vol7'-a"en Gou. #a' ecentl%
announce$ .lan' to $ou(le !t' com.onent 'ouc!n" fom In$!a to USD5&:
m!ll!on !n &;1&
1on$a: T#e Ca.ane'e auto maAo #a' ma$e In$!a !t' e6.ot (a'e fo 7e%
en"!ne com.onent'
Fo$: T#e US com.an% #a' announce$ .lan' to ma7e In$!a a
manufactu!n" (a'e fo en"!ne' to 'e9e t#e A'!a)/ac!f!c e"!on a' -ell
a' Af!ca

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' &?

.....
+., Eme"ence of a manufactu!n" e6.ot #u(

W#!le In$!a e6.ot' a -!$e 9a!et% of manufactue$ "oo$'8 t#ee ae 'ome 'ecto'
!n -#!c# t#e count% #a' a $!'t!nct a$9anta"e. We .e'ent #ee t-o 'uc# 'ecto' F
"em' an$ Ae-elle%8 an$ te6t!le' F (ot# of -#om #a9e .la%e$ a maAo ole !n t#e
count% ' econom%

Gem' an$ Ae-elle%: Gem' an$ Ae-elle% e6.ot' fom In$!a !ncea'e$ at a CAGR
of 1?.:, .e cent o9e F<;+)F<1&. T#e t-o maAo con't!tuent' !n t#e'e e6.ot' ae
cut an$ .ol!'#e$ $!amon$'8 an$ "ol$ Ae-elle%. To"et#e t#e% accounte$ fo Au't
o9e 5, .e cent of total "em' an$ Ae-elle% e6.ot' !n F<1&. T#e count% #a' (een
a(le to le9ea"e !t' .a't e6.e!ence !n t#e 'ecto an$ !m.o9!'e fut#e lea$!n" to
9alue a$$!t!on of f!nal .o$uct'. In$!a .at!culal% enAo%' a 'ton" com.et!t!9e
a$9anta"e !n "lo(al cut an$ .ol!'#e$ $!amon$' ma7et. Co't of .o$uct!on !' lo-
-#!le a la"e .ool of '7!lle$ man.o-e !' a9a!la(le. In$!a !n fact #a' a maAo '#ae
!n t#e "lo(al $!amon$ .ol!'#!n" (u'!ne'' -!t# 11 out of t#e -ol$ ' 1& $!amon$'
(e!n" cut an$ .ol!'#e$ !n t#e count%.

E6#!(!t ,:
Gem' an$ Ae-elle% e6.ot' fom In$!a =USD (!ll!on>
1;
15
&;
&5
,;
,5
:;
:5
;
5
)1;H
;H
1;H
&;H
,;H
:;H
5;H
F<;5 F<;+ F<;0 F<;? F<;5 F<1; F<11 F<1&/
Value =USD (!ll!on> <o< "o-t#

Souce: Gem M Ce-elle% E6.ot /omot!on Counc!l8 Aanca Re'eac#


.....
E6#!(!t ,5
Com.o'!t!on of "em' an$ Ae-elle% e6.ot' =F<1&/>
=.e cent>
:.1H &.;H
;.?H
Cut M /ol!'#e$
D!amon$'
Gol$ Ce-elle%
Colou "em'tone'
,?.+H
5:.5H
Rou"# $!amon$'P
Ot#e'

Souce: Gem M Ce-elle% E6.ot /omot!on Counc!l8
Aanca Re'eac# P E6.ot'

Te6t!le': Co't com.et!t!9ene'' !' a 7e% $!9e of t#e In$!an te6t!le' e6.ot'. T#!'
!'
ma!nl% $ue to '%ne"!e' ac#!e9e$ (% In$!an .la%e' -#!le e6.an$!n"
ca.ac!t%.
E6.ot' fom t#e 'ecto #a9e (een "o-!n" at a CAGR of 5.5 .e cent
$u!n"
F<;5)F<11. Te6t!le e6.ot' ae $om!nate$ (% ea$%ma$e "ament' =:; .e cent
of
t#e total !n F<11>8 a 'e"ment t#at enta!l' #!"# 9alue a$$!t!on com.ae$ to
ot#e
'e"ment'.

E6#!(!t ,+
In$!an Te6t!le E6.ot'
1;
15
&;
&5
;
5
)5H
;H
5H
1;H
15H
&;H
&5H
F<;5 F<;+ F<;0 F<;? F<;5 F<1; F<11
Value =USD (n> Go-t# ) !"#t a6!'


In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ,;

.....
E6#!(!t ,0
Com.o'!t!on of te6t!le e6.ot' F<11 =.e cent>
1.+H &.,H Rea$%ma$e
,.+H
"ament'
Cotton te6t!le'
:.5H
Man)ma$e te6t!le'
,5.+H
10.,H
1an$!caft'
S!l7 M 1an$loom
Wool M Woolen
te6t!le'
Ot#e'
,1.&H

Souce: M!n!'t% of Te6t!le'8 Aanca Re'eac#

Intee't!n"l%8 SME' #a9e ma$e a 'ton" cont!(ut!on to "o-t# of t#e In$!an
te6t!le' 'ecto. Due to t#e! 'ton" .e'ence8 t#e M!n!'t% of Te6t!le' #a'
un$eta7en a Tclu'te (a'e$ $e9elo.ment a..oac# fo t#e eff!c!ent "o-t# of t#e
'ecto. Acco$!n" to UNIDO8 ?; .e cent of .o$uct!on of te6t!le' come' fom
a(out 'e9ent% clu'te'. T#e maAo clu'te' !nclu$e /an!.at8 T!u.u an$ 2u$#!ana.
T#e /an!.at clu'te .o$uce' 05 .e cent of In$!a ' (lan7et' T!u.u account' fo
?; .e cent of t#e count% ' #o'!e% e6.ot' an$ 2u$#!ana #a' a '#ae of 55 .e
cent !n t#e .o$uct!on of -oollen 7n!t-ea.

0. CONC2USION
In$!a #a' eme"e$ a' a "lo(al manufactu!n" #u( $ue to !t' co't com.et!t!9ene''8
'7!lle$ -o7foce an$ fa9oua(le "o9enment .ol!c!e'. Fut#emoe8 t#e mo't
fun$amental facto fo'te!n" "o-t# !n t#e 'ecto !' t#e .e'ence of 'ton"
ma7et locall%. In$!a !' one of t#e fa'te't "o-!n" econom!e'. T#e Con'ume
ten$ !n t#e count% !' ena(l!n" $ome't!c .la%e' to flou!'# an$ al'o attact!n"
!ntenat!onal .la%e'. Du!n" F<118 :1 out of 1&1 manufactu!n" 'u()'ecto'
e"!'tee$ e6cellent "o-t# of moe t#an &; .e cent. W#!le t#e 'ecto
.e$om!nantl% #a' (een e6.an$!n"8 Au't f!9e of 1&1 'ecto' '#un7 $u!n" t#e
.e!o$.

T#ou"# t#e 'ecto #a' e"!'tee$ 'ton" "o-t# !n t#e .a't8 t#e In$!an ma7et
offe' a -!$e an"e of unta..e$ o..otun!t!e'. In$!a8 -#!c# #a' .lace$ #!"#
.!o!t% on !nfa'tuctue $e9elo.ment8 offe' #!"# "o-t# fo cement an$ .o-e
eBu!.ment manufactue'8 -!t# !t' cuent con'um.t!on .atten -a% (elo- t#e
-ol$ a9ea"e. Anot#e e6am.le !' .o'.ect' !n t#e foo$ .oce''!n" !n$u't%. T#e -ol$ ' 'econ$ mo't .o.ulou' count% an$ one of t#e la"e't foo$ .o$uce' .oce''e$ a mea"e '!6 .e cent of t#e .e!'#a(le'.

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ,1

.....
T#e e9ol9!n" ten$' of manufactu!n" off)'#o!n" !n
In$!a8 a' 'een !n t#e
automo(!le 'ecto8 an$ t#e "o-t# of manufactue$
e6.ot'8 .ota%e$ !n 'u()
'ecto' 'uc# a' "em' M Ae-elle% an$ te6t!le'8 !llu'tate'
t#e lon")tem
'u'ta!na(!l!t% of "o-t# !n t#e 'ecto.

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ,&

.....
A//ENDI@: SNA/S1OT OF 4E<
INDUSTRIES

1 Automot!9e'

In$!a ' automot!9e' !n$u't% -ot# USD:? (!ll!on #a' e9ol9e$ fom a .o$uce of
; + m!ll!on un!t' !n t#e eal% 155; ' to a "!ant c#un!n" out 1?.; m!ll!on un!t' !n
&;1;. T#e 'ecto !' $om!nate$ (% ca' -#!c# ma7e u. t-o)t#!$ of
!n$u't%
tuno9e. 1o-e9e8 !n tem' of 9olume'8 t-o)-#eele' #a9e t#e la"e't '#ae
F
a(out t#ee)fout#. A' .e t#e Automot!9e M!''!on /lan8 t#e 'ecto -!ll (e
-ot#
USD1:5 (!ll!on (% &;1+.

E6#!(!t ,?
Automot!9e 'ale' =USD (!ll!on>
&;;0 &;;? &;;5 &;1;E
Re9enue :,.+ :5.& :?.; 50.1
Ca' &&.5 &,.? ,&.5 ,0.?
Tuc7' 1:.5 15.: ?.5 1&.,
T-o)-#eele' 5.? +.; +.+ 0.;
Go-t# =H> &1.1 ,.0 +.& 15.;
/o$uct!on
=m!ll!on un!t'> 1;.5 11.& 1:.1 1?.;
Souce: Datamon!to8 SIAM8 Aanca Re'eac#

E6#!(!t ,5
2ea$!n" ma7et .la%e'
Cate"o% 4e% /l a%e Ma7et S#ae
/a''en"e Ve#!cle' Maut! SuGu7! :5H
MCV' M 1CV' Tat a Moto' +,H
2CV' Tat a Moto' 55H
T#ee W#eele' /!a""!o :1H
Motoc%cle' 1eo 1on$a 55H
Scoot e' 1on$a 51H
Souce: SIAM8 Aanca Re'eac#
Note': 2CV F 2!"#t Commec!al Ve#!cle'8 Coe'.on$!n"l%
M !n MCV an$ 1 !n 1CV 'tan$ fo SMe$!umI an$ S1ea9%I

4e% Ten$'

In$!a !' t#e -ol$ ' &n$ la"e't t-o)-#eele .o$uce8 :t# la"e't
commec!al 9e#!cle .o$uce
Incea'!n" !nno9at!on' F Tata Moto' $e'!"ne$ t#e -ol$ ' c#e a.e't ca =Nano> Com.e''e$ Natual "a' =CNG> fuelle$ 9e#!cle' !n In$!a #a9e !ncea'e$ at a CAGR of +; .e cent $u!n" &;;?)1; In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ,:

.....
Go-t# D!9e'

Deman$ $!9e': R!'!n" !ncome'8 "o-!n" m!$$le cla''8 a %oun"
.o.ulat!on8 an$ ea'% acce'' to ce$!t
/ol!c% Su..ot: t#ou"# 'o.'8 ta6e'8 FDI encoua"ement8 an$ focu' on
$e9elo.!n" In$!a a' a "lo(al auto manufactu!n" #u(

O..otun!t!e'

Glo(al ca "!ant' l!7e Geneal Moto'8 N!''an an$ To%ota #a9e eama7e$
In$!a a' t#e #u( fo manufactu!n" 'mall ca' fo t#e -ol$ ma7et. In$!a
offe' a 1;)&5 .e cent co't a$9anta"e com.ae$ to Euo.e an$ 2at!n
Ame!ca
T#e elect!c ca ma7et !' e6.ecte$ to e6.an$ "!9en t#e .a''!on fo fuel
eff!c!enc%
G!9en fa9oua(le .ol!c!e' =Nat!onal Automot!9e Te't!n" an$ RMD
Infa'tuctue /oAect> an$ a .ool of '7!lle$ man.o-e8 In$!a !' fa't
eme"!n" a' a "lo(al RMD #u(

& Foo$ /oce''!n"

Dome't!c foo$ '.en$!n" !n In$!a touc#e$ USD1?1 (!ll!on !n &;;5 an$ !' e't!mate$
to 'u"e u. to USD,1? (!ll!on on t#e (ac7 of 'ton" "o-t# !n .e)ca.!ta !ncome
an$ a "o-!n" =%oun"> .o.ulat!on. T#e foo$ .oce''!n" !n$u't% 'tan$' to "a!n
fom t#e fact t#at t#e count% !' t#e -ol$ ' la"e't m!l7 .o$uce t#e 'econ$ )
la"e't fu!t' an$ 9e"eta(le' .o$uce8 an$ t#e t#!$)la"e't f!'# .o$uce.

E6#!(!t :;
4e% f!"ue' =USD (!ll!on>
&;;: &;;5 &;;+ &;;0
/o$uct!on 50.; +&.; +?.; 05.;
Go-t# =H> ? 5 1; 1;
E6.ot' ;.+ 1.& 1.: 1.5
Go-t# =H> ; 1;; 10 ,+
Souce: Fla9ou' of Ince$!(le In$!a =En't M <oun"8 &;;5>8
Aanca Re'eac#


.....
E6#!(!t :1
Cate"o% 2ea$!n" .la%e'
Fu!t'8 9e"et a(le'8
.oce''e$ "a!n Da(u8 G o$eA8 /ale8 MTR
Aeate$ $!n7' an$
.ac7a"e$ -at e /e.'!8 Coca)Cola8 /ale
/ac7a"e$ foo$ MTR8 F!tola%8 1e!nG8 Ne'tle8 3!tann!a8
Ca$(u%*'
M!l7 an$ m!l7 .o$uct' Coo.eat!9e 'oc!et!e' ) GCMMF8 A/DDCF8
4MF8 Ma#a'an"8 NDD3
Souce: Aanca Re'eac#

4e% Ten$'

Secto accounte$ fo 1: .e cent of In$!a ' total manufactu!n" 'ecto
out.ut !n F<;5
Con'ume foo$ =,; .e cent>8 "a!n8 "oun$nut' an$ ceeal' =&? .e cent>
an$ .oce''e$ fu!t' an$ 9e"eta(le' =1? .e cent> -ee t#e ma!n e6.ot
!tem' !n F<11L ma!n $e't!nat!on' -ee t#e M!$$le Ea't an$ Sout# Ea't A'!a
Uno"an!'e$ 'ecto $om!nate'L '#ae: 0; .e cent of 9olume'8 5; .e
cent of 9alue

Go-t# D!9e'

Deman$ $!9e': R!'!n" !ncome'8 !ncea'!n" u(an!Gat!on8 "o-!n" m!$$le
cla''8 $ual !ncome #ou'e#ol$'8 an$ a %oun" .o.ulat!on
Fa9oua(le 'u..l% fun$amental': 2a"e a"!cultue 'ecto8 la"e l!9e'toc7
(a'e8 a lon" coa'tl!ne8 an$ a num(e of !nlan$ -ate (o$!e'
/ol!c% Su..ot: Me"a Foo$ /a7'8 A"! E6.ot Done'8 1;; .e cent FDI
un$e automat!c oute8 ta6 !ncent!9e'8 an$ eco"n!t!on a' .!o!t% 'ecto
fo (an7 ce$!t

O..otun!t!e'

T#e fa"mente$ ma7et #a' #u"e "o-t# .otent!al a' cuent 9alue
addition by the industry is 20 per cent; the government intends to boost
this to 35 per cent by 2015
1ou'e#ol$ con'um.t!on of .oce''e$ foo$ !' e6.ecte$ to $ou(le (% &;&;
on t#e !'!n" !ncome'8 .o9et% alle9!at!on an$ fut#e u(an!'at!on
/otent!al to e9ol9e a' a "lo(al foo$ .oce''!n" #u( $ue to a$eBuate

'u..l% of a- mate!al'8 co't a$9anta"e'8 an$ "o9enment 'u..ot
In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ,+

.....
, Electon!c'

T#e electon!c' ma7et !n In$!a -a' -ot# USD+? (!ll!on !n F<11 an$ !'
.oAecte$
to "o- to USD:;; (!ll!on (% &;&; =De.atment of Infomat!on
Tec#nolo"%>.
/o$uct!on !n t#e 'ecto e6.an$e$ at a CAGR of 1+.0 .e cent $u!n" F<;+)
F<1&.

E6#!(!t :&
F< ;5 F< 1; F< 11 F<1&E
/o$uct!on &;., &,.1 &+.? &5.5
Go-t# =H> 15H 1:H 1+H 1&H
E6.ot' +.5 5.: ?.: 5.,
Go-t# =H> 1,&H )10H 5+H 11H
Souce: De.atment of Infomat!on Tec#nolo"%8 Co.oate Catal%'t In$!a8
Aanca Re'eac#

E6#!(!t :,
Cate"o% 2ea$!n" .la%e'
Con'ume electon!c' 2G 8 Sam'un"8 V!$eocon8 1C2
S.ec!al!'e$ .o$uct' 3#aat Electon!c'
Electon!c eBu!.ment
Ca(!l
D!'.la% $e9!ce' Samtel
Souce: Re$!ff (u'!ne''8 Co.oate Catal%'t In$!a8 Aanca Re'eac#
P!n o$e to meet nee$' of In$!an $efence $e.atment

4e% Ten$'

Go-t# !n .o$uct!on of commun!cat!on an$ (oa$ca't!n" =CM3>
eBu!.ment o9e'#a$o-e$ 'ecto "o-t# F CAGR of ,: .e cent 9e'u'
1+.0 .e cent o9e F<;+)F<1&L con'eBuentl% '#ae of CM3 !n total
.o$uct!on o'e to &?., .e cent fom 1&.: .e cent
Incea'e !n $eman$ fo CM3 eBu!.ment' $ue to $ecl!n!n" ta!ff'
In$!a !' -!tne''!n" #!"# .enetat!on !n com.ute' ma7etL :; .e cent
"o-t# !n 'ale' of note(oo7' $u!n" F< 11
Incea'!n" affo$a(!l!t% an$ o"an!'e$ eta!l (enef!tt!n" t#e 'ecto

Go-t# D!9e'

Deman$ $!9e': Ea'% acce'' to ce$!t8 $ecl!n!n" .!ce'8 "o-!n"
$!'.o'a(le !ncome alon"8 an$ an e6.an$!n" m!$$le cla''


.....
/ol!c% Su..ot: Ta6 !ncent!9e' fo electon!c manufactue'8 ela6e$
$ut!e'8 .omot!on of SED'8 an$ (enef!t' fom 'c#eme' l!7e E6.ot
/omot!on Ca.!tal Goo$' Sc#eme8 an$ Electon!c 1a$-ae Tec#nolo"%
/a7 Sc#eme
Foe!"n !n9e'tment: Secto (enef!tt!n" fom !ncea'!n" FDIL cumulat!9e
!nflo-' fom A.!l &;;; to Mac# &;11 -a' USD11.+ (!ll!on

O..otun!t!e'

Dome't!c .o$uct!on meet' onl% :5 .e cent of $eman$L .ol!c% 'o.' ae
on t#e an9!l to encoua"e #!"#e .o$uct!on !n In$!a
/enetat!on !n t#e con'ume $ua(le' 'e"ment !' 'et to !'e fom cuent
le9el' a' $!'.o'a(le !ncome' of con'ume !'e $ue to 'ton" econom!c
"o-t#
Acco$!n" to t#e De.atment of Infomat!on Tec#nolo"%8 $eman$ fo
electronics hardware is set to grow at a CAGR o 22 per cent over 200!"
20

: Fa't Mo9!n" Con'ume Goo$' =FMCG>

T#e FMCG 'ecto !n In$!a #a' "o-n to a '!Ge of USD&0.5 (!ll!on !n &;1; fom
USD5 ; (!ll!on !n &;;; TFoo$ .o$uct' !' t#e lea$!n" 'e"ment follo-e$ (%
T.e'onal cae an$ Tfa(!c cae T#e fa'te't "o-!n" 'u()'ecto' #a9e (een
Tc#ocolate' an$ TAu!ce' 1!n$u'tan Un!le9e 2t$ =1U2> !' t#e lea$!n" .la%e !n t#e
ma7et -!t# a '#ae of moe t#an ,, .e cent.

E6#!(!t ::
&;;0 &;;? &;;5 &;1;
Sale' 10.? &1., &:.& &0.5
Go-t# =H> 1, &; 1: 15
Souce: AC N!el'en8 Aanca Re'eac#

E6#!(!t :5
Cate"o% 4e% /la%e Ma7et S#ae
1a! o!l Ma!co :&H
S#am.oo 1!n$u'tan
Un!le9e 2t $ :+H
Oal cae Col"ate 5;H
S7!n cae 1!n$u'tan
Un!le9e 2t $ 55H
Fu!t Cu!ce Da(u 5&H
Souce: In$u't% e't!mate'8 Aanca
Re'eac#

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' ,?

.....
4e% Ten$'

Into$uct!on of T'mall .ac7' #a' ena(le$ lo- .!c!n" .e un!t an$ #el.e$
to e6.an$ t#e cu'tome (a'e =an$ t#ee(% 9olume' an$ ma"!n' a' -ell>
FMCG com.an!e' ae e6.an$!n" t#e! $!'t!(ut!on net-o7' to ca.!tal!Ge
on t#e un$e'e9e$ ual ma7et
Succe''ful u'e of cu'tome 'e"mentat!on an$ .o$uct !nno9at!on (%
com.an!e'

Go-t# D!9e'

Deman$ $!9e': Incea'!n" !ncome'8 e6.an$!n" m!$$le cla'' an$ a.!$
u(an!'at!on $!9!n" 'ale' "o-t#
Go-!n" .o.ula!t% of o"an!'e$ eta!l =5)+ .e cent of total eta!l
cont!(ute' to &5 .e cent of 'ale'> !' lea$!n" to $!'cet!ona% .uc#a'e'
an$ t#ee(% (oo't!n" 'ale'
Fa9oua(le "o9enment .ol!c!e' a' t#e 'ecto !' cla''!f!e$ a' a .!o!t%
'ecto

O..otun!t!e'

Incea'!n" (an$ con'c!ou'ne'' an$ !'!n" ual !ncome' !' ma7!n" t#e
rural mar#et a potential high growth area or the $%CG sector
Deman$ fo .em!um (an$' an$ 9alue)a$$e$ ma'' (an$' #a9e "one
u. an$ t#e ten$ !' l!7el% to 'ten"t#en fut#e a' .eo.le "et !c#e. T#!'
.o9!$e' o..otun!t!e' fo cuent .la%e' to e6.an$ t#e! .o$uct
.otfol!o
In$!an con'ume' ae #!"#l% a$a.ta(le to ne- .o$uct'. T#!' offe'
com.an!e' t#e o..otun!t% to !nno9ate -!t# ne- .o$uct' =e" men '
fa!ne'' ceam>
In$!a !' a lucat!9e "lo(al 'ouc!n" #u( fo FMCG com.an!e' $ue to !t'
co't com.et!t!9ene'' an$ acce'' to !ntenat!onal ma7et'.

5 /#amaceut!cal'

In$!a !' t#e t#!$)la"e't .#amaceut!cal ma7et (% 9alue !n t#e A'!a)/ac!f!c
e"!on. T#e ta$e 'u.lu' !n t#e 'ecto !' l!7el% to e6.an$ to USD1&.? (!ll!on (%
acco$!n" to 3u'!ne'' Mon!to
Intenat!onal =3MI>.

&;15L t#e 'ecto ' e6.ot' ae foeca'te$ to !ncea'e moe t#an t-o fol$'


.....
E6#!(!t :+
&;;5 &;1; &;11E &;1&E
Re9enue 11.& 1,.? 15.+ 10.:
Go-t# =H> 15H &:H 1,H 1&H
E6.ot' :.5 +.; 0.; ?.;
Net e6.ot' ,.5 5.1 +.1 0.;
Go-t# =H> )5H ,1H &;H 15H
Souce: 3MI8 Aanca Re'eac#

E6#!(!t :0
Ran7 Com.an% Ma7et S#ae
1 C!.la 5.&H
& Gla6oSm!t#4l!ne :.+H
, Sun /#amaceut!cal :.+H
: Ran(a6%
2a(oato!e' :.+H
5 /!amal 1ealt#cae :.1H

Souce: In$u't% e't!mate'8 Aanca Re'eac#

4e% Ten$'

S.en$!n" on RMD (% In$!an f!m' amount' to 1.5 .e cent of e9enue on
a9ea"e
In$!a !' t#e -ol$ ' 'econ$ la"e't Act!9e /#amaceut!cal In"e$!ent'
manufactue
Gene!c $u"' $om!nate t#e 'ecto ' total 'ale' =o9e 0; .e cent !n &;11>
In$!a ' co't a$9anta"e #a' #el.e$ t#e Tcl!n!cal t!al !n$u't% to flou!'#L
t#e 'e"ment -a' -ot# USD:;; m!ll!on =e't!mate'> !n &;;5

Go-t# D!9e'

Deman$ $!9e': Go-!n" '#ae of e$ucate$ .eo.le lea$!n" to !'!n"
acce.tance fo me$!c!ne'L !'!n" #ealt# !n'uance co9ea"e =e6.ecte$ to
$ou(le !n &;&; com.ae$ to &;1;>L "o-!n" !ncome' an$ .o.ulat!onL
!m.o9e$ me$!cal !nfa'tuctue =USD&;; (!ll!on of !n9e'tment' !n t#e
ne6t $eca$e>

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' :;

.....
/ol!c% Su..ot: Mea'ue' l!7e MOU' -!t# USFDA8 W1O: an$ 1ealt#
Cana$aL U/#ama V!'!on &;&;V to ma7e In$!a a "lo(al lea$e !n en$ )to)
en$ $u" manufactueL e$uce$ a..o9al t!me fo ne- fac!l!t!e' -!ll lea$
to "o-t# !n !n9e'tment' !n t#e 'ecto

O..otun!t!e'

A9a!la(!l!t% of '7!lle$ $octo'8 "enet!call% $!9e'e .o.ulat!on8 an$ co't
a$9anta"e =+5 .e cent lo-e t#an !n t#e US> ma7e' In$!a a lucat!9e
$e't!nat!on fo cl!n!cal t!al'
Im.o9!n" !ncome le9el' of In$!an con'ume' -!ll (oo't $eman$ fo #!"#)
end drugs
W!t# 0; .e cent of In$!a ' .o.ulat!on e'!$!n" !n ual aea' ual
mar#ets are an opportunity o growth or pharmaceutical companies in
&ndia

:MOU: Memoan$um of Un$e'tan$!n"8 USFDA: Un!te$ State' Foo$ an$
Du" A''oc!at!onL
W1O: Wol$ 1ealt# O"an!Gat!on

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' :&

.....
DISC2AIMER

In$!a 3an$ EBu!t% Foun$at!on =I3EF> en"a"e$ Aanca to .e.ae t#!' e.ot an$
t#e 'ame #a' (een .e.ae$ (% Aanca !n con'ultat!on -!t# I3EF.

All !"#t' e'e9e$. All co.%!"#t !n t#!' e.ot an$ elate$ -o7' !' 'olel% an$
e6clu'!9el% o-ne$ (% I3EF. T#e 'ame ma% not (e e.o$uce$8 -#oll% o !n .at !n
an% mate!al fom =!nclu$!n" .#otoco.%!n" o 'to!n" !t !n an% me$!um (%
electon!c mean' an$ -#et#e o not tan'!entl% o !nc!$entall% to 'ome ot#e u'e
of t#!' .e'entat!on>8 mo$!f!e$ o !n an% manne commun!cate$ to an% t#!$ .at%
e6ce.t -!t# t#e -!tten a..o9al of I3EF.

T#!' e.ot !' fo !nfomat!on .u.o'e' onl%. W#!le $ue cae #a' (een ta7en
$u!n" t#e com.!lat!on of t#!' e.ot to en'ue t#at t#e !nfomat!on !' accuate to
t#e (e't of Aanca an$ I3EF ' 7no-le$"e an$ (el!ef t#e content !' not to (e
con'tue$ !n an% manne -#at'oe9e a' a 'u('t!tute fo .ofe''!onal a$9!ce.

Aanca an$ I3EF ne!t#e ecommen$ no en$o'e an% '.ec!f!c .o$uct'
o
'e9!ce' t#at ma% #a9e (een ment!one$ !n t#!' e.ot an$ no $o t#e% a''ume
an%
l!a(!l!t% o e'.on'!(!l!t% fo t#e outcome of $ec!'!on' ta7en a' a e'ult
of an%
el!ance .lace$ on t#!' .e'entat!on.

Ne!t#e Aanca no I3EF '#all (e l!a(le fo an% $!ect o !n$!ect
$ama"e' t#at
ma% a!'e $ue to an% act o om!''!on on t#e .at of t#e u'e $ue to an%
el!ance
.lace$ o "u!$ance ta7en fom an% .ot!on of t#!' e.ot.

In$!an Manufactu!n": O9e9!e- an$ /o'.ect' :,

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OVERVIEW AND PROSPECTS

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