An extract from a speech by Ms. Vanitha Mohan, Vice Chairman, Pricol Limited at GMCV 2020.

The Indian industry as all of you know is undergoing a major change in several aspects. Thanks to the opening of our doors to the global markets. The cluster concept is a major reason for the industry witnessing a manufacturing boom. Facilities that are part of the sea of new manufacturing hubs or clusters take advantage of the traditional skills of a community, transforming local groups of small manufacturing units into larger modern manufacturing processes.

But a chain is as strong as its weakest link. Therefore, when members of a cluster help those who are lagging behind, meeting productivity targets and conforming to quality standards, become more realistic and achievable.

India’s biggest strength is its availability of manpower. It’s expected to be the most populous nation by 2050. Its population is expected to grow to overtake China by 2050. India will also have the highest working population of the world by 2050. It is this human resource that needs to be harnessed to the advantage of the Indian economy.

The reference comes from CBS’ highly-regarded 60 Minutes, the most widely watched news programme in the US, which told its more than 10 million viewers that “IIT may be the most important university you’ve never heard of.”

“The United States imports oil from Saudi Arabia, cars from Japan, TVs from Korea and whiskey from Scotland. So what do we import from India? We import people, really smart people,” co-host Leslie Stahl began while introducing the segment on IIT. He also said, “Put Harvard, MIT, and Princeton together, and you begin to get an idea of the status of this school in India.”

When we have such immense talent nurtured right under our noses, Global manufacturing vision starts with harnessing them and honing their skills. Whatever we do towards achieving global competency, we have a moral responsibility to protect the local fabric in the form of its culture and its people.