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VIEW FROM THE TOP
A round-up of the industry experts’ views on the overall impact of the
Union Budget for the Indian Manufacturing sector, and how innovation
and R&D can facilitate its journey towards self-reliance…
Source: Gears and Gear Drives (India) Pvt Ltd er, Agriculture, and Transport the development of the Health
are all welcoming signs. Since sector, given the global good-
Seshagiri Ramchandra the onset of Covid, the new will generated due to the export
Managing Director & CEO norm has been to use digital of Covid vaccines. Industries
Gears and Gear Drives (India) platforms for connecting and including Machine Tools, Indus-
Pvt Ltd networking. Hence, the virtual trial Machinery, Pharmaceuti-
business development opportu- cal equipment, Aerospace and
Budget favorable nities are promising. Defence, and Agri Machinery
to industry Some of the gaps to be addressed are slated to grow fast.
No doubt that the Budget has been are training and retraining
designed for the overall growth of in skill development, and the Innovation and R&D
the economy. Although the in- adoption of automation in the are important
dustrial economy is expected to manufacturing ecosystems that We need to change our mind-
grow at 8 plus percent this year, can scale up production levels. set and realize how important
$1 trillion is an ambitious goal. Intensive training on the quality innovation and R&D are for our
The policies to invest in sectors management systems, willingness growth. While we are good at
such as Infrastructure, Pow- to consistently spend on R&D, and ‘Juggad’ solutions to cater to the
the use of cutting-edge technol- local demands, we must now
ogies in manufacturing are the invest in R&D for us to move
need of the hour. The industry upwards in the value chain.
and academia tie-ups, especially Associations and institutes in-
for MSMEs, and the availability volved with R&D should con-
of certified raw materials with- duct webinars to raise aware-
out minimum order quantities are ness on the same.
also to be put in place.
There will be a boost to the ex-
port of Defence equipment and
POONAM PEDNEKAR Source: Mikronix Gauges Pvt Ltd next few years. There are two are awaited, we are hopeful to
Chief Copy Editor major steps that, according to soon have clarity on this. This
Magic Wand Media Inc Abhay Hanchanal me, can help us be better in can have a highly positive im-
poonam.pednekar@ CEO manufacturing. These are: pact on auto manufacturing
magicwandmedia.in Mikronix Gauges Pvt Ltd Planned Infra Spending: India and, in turn, on manufacturing
not just needs major improve- in total as the major depen-
So far so good ment in infrastructure, but dence is on the Auto industry.
I believe that the Budget will it needs it desperately in the The introduction of any cess
have a positive impact on the shortest timeframe possible. in the form of Covid cess etc.
The present Government has a would have caused a big con-
reasonable track record of im- cern in the industry as an addi-
plementation so we can expect tional burden. Not adding it is a
quick results that can bolster positive step.
growth in the industries such
as Cement, Heavy Vehicles, and R&D is key to self-reliance
Steel, which can further boost Spending on R&D in the Man-
other interconnected industries. ufacturing industry or any
Introduction of Vehicle Scrap- other industry is negligible in
page Policy: Though the details India. We need to correct this.
20 | March-April 2021 Modern Manufacturing India
