Robust Demand
The Indian manufacturing sector isrecording robust growth and is characterized by a robust increase in demand invarious sectors like-
· ACEor Appliances and Consumer Electronic
· Electricvehicle
Market size
The gross value added (GVA) of themanufacturing sector in India at current prices is estimated at USD348.53billion
Policy Support
The Government of India has extendedseveral favourable policies supports to improve the growth of the manufacturingsector in India.
· PLIscheme
· 6 technology innovative platforms.
Competitive Advantages
Indian manufacturing sector enjoysmultiple competitive advantages like
· Low skilled labour cost.
· Growing middle-class.
· Increasing market demand.
· Improvement in infrastructure.
Important factors to consider whilesetting up a manufacturing plant in India
· Logistic framework
· Site selection due diligence
· M&A activities
· Human Resources.
Tecnova the leading automobile consultants in India helps clients in increasing customer valueand focusing on profitable growth both at strategic and operational levels. To know more read here
