India – An attractive manufacturing and sourcing destination - PowerPoint PPT Presentation

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India – An attractive manufacturing and sourcing destination

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India has emerged as an attractive manufacturing sourcing company destination in the past couple of years and has a lot to offer as the world’s fast-growing economy. Industry Experts is a business platform which not only provides manufacturing sourcing solutions but also helps in finding relevant manufacturer for contract manufacturing according to the business needs and facilitates companies desirous of setting up business in India with offshoring services. – PowerPoint PPT presentation

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Title: India – An attractive manufacturing and sourcing destination


1
  • India An attractive manufacturing and sourcing
    destination
  • India has emerged as an attractive manufacturing
    sourcing destination in the past couple of
    years and has a lot to offer as the
    worlds fast-growing economy. The
    manufacturing sector in India is fast
    developing into an investment hub for many
    foreign players who have already shifted
    their sourcing to India and are benefitting from
    the same. But, before proceeding to more
    details, it is important to understand what
    manufacturing sourcing is and what a
    manufacturing sourcing company do.
  • Manufacturing Sourcing It refers to the
    concept of searching for a supplier that
    would help the client company in meeting its
    objective in terms of cost, quality and
    deadlines as well as performance. The
    sourcing consultant from a manufacturing sourcing
    company helps the client on both professional and
    personal levels which further helps in making the
    production stage much smoother. The primary
    advantage of the services provided by the
    consultant includes cost savings and improved
    efficiency. Some more benefits include
  • An effective solution for finding the dealer
    channels because the consultants connect the
    client company with raw material vendors.
  • The consultants are well-versed in providing
    intelligent advice and guidance on whether the
    product should be procured locally or import.
  • The government has set up various organizations
    such as the India Industrial Land Bank (IILB),
    Industrial Park Rating System (IPRS), and soft
    launch of the National Single Window System
    (NSWS), National Infrastructure Pipeline (NIP),
    and the National Monetization Pipeline (NMP)
    to attract the foreign and domestic
    investments. Some more government initiatives
    such as Make In India, Atmanirbhar Bharat,
    Production Linked Incentive Scheme etc. also aim
    at developing local capabilities for sourcing.

Indias strengths and key advantages
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  • Indias manufacturing industrys biggest
    strength is its cost-effectiveness. The
    labour cost in India is much lower in
    comparison to other competing nations.
  • Many countries from Europe and the USA are now
    setting up their business in India to lower
    their manufacturing and overall cost. And,
    lower costs directly mean a higher return on
    investment.
  • Domestic availability of raw materials like
    cotton, silk, jute, metal, wood, marble,
    bamboo, pharmaceutical ingredients, chemicals
    etc. This makes it easy and cost-effective for
    companies to source from India.
  • Advanced infrastructure and latest technologies.
    5- Stable government and supportive policies.
  • A vast pool of talent comprising English speaking
    workforce and technical manpower.
  • The country offers definite advantages to
    industrial companies in research and
    development, engineering design
    prototyping, service, training and
    specialty testing, apart from manufacturing.
  • The sourcing companies, with their industrial
    expertise across functions like
    manufacturing, strategies, sourcing etc.
    help the client organizations in
    expanding their business operations. This
    competitive market demands a proper knowledge
    of what is to be done and when.
    Therefore, choosing the right manufacturing
    consultant and consulting service is an
    important step that needs to be taken
    carefully. Factors that need to be
    considered before hiring a manufacturing
    consultant are listed below
  • Flexibility
  • In-depth knowledge and experience 3-
    Professionalism in business
  • 4- Trouble shooting in procurement and supplies
    5- Strong communication skills
  • 6- Qualified and experienced workforce
  • Industry Experts is a business
    platform which not only provides
    manufacturing sourcing solutions but
    also helps in finding relevant
    manufacturer for contract manufacturing according
    to the business needs and facilitates companies
    desirous of setting up business in India with
    offshoring

services.
3
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