Strategic manufacturing is a key driver for propelling the growth of the economy said Mr Uday Kotak, President, CII & Managing Director & CEO, Kotak Mahindra Bank at the CII Southern Region Annual Session & Industry Reset- a Summit on Strategic Manufacturing in the Digital Era organized through Virtual Platform.
He further said that in the current era, to be world-class, organizations need to adopt to fast changing technology and need to have digital mindset. He also mentioned that we need to be cautioned about the colonization of raw material supply across the world. He said that there is a need to bring in strategic mindset into the manufacturing sector. The country needs to focus on strengthening & improving the quality of skill development initiatives and engineering talent to that high quality manpower is available to the industry.
Shobana Kamineni, Past President, CII & Executive Vice Chairperson, Apollo Hospitals Enterprises Ltd said that this COVID war is not going to end without a cure. Now the high priority for the country is how to get the jobs back as we are celebrating International Women’s Day, we should not forget that the women were worst affected during the pandemic and many of them have lost the jobs. We also lost one year in Education and witnessing high level of nutrition inadequacy among the children. She also mentioned that global partnerships are important and good sign is that the world is coming together during the challenging times.
Satish Reddy, Chairman, CII Southern Region & Chairman, Dr. Reddy’s Laboratories said that Private consumption has been the main driver of India’s growth, contributing about 60% to GDP. It is time to stimulate the economy targeted mostly at the lower and middle-income groups that form bulk of our population. This could primarily be done by improving jobs and livelihood opportunities available to them said
He further said that, a complete reset of the existing policy discourse on jobs needs to be brought back to focus. The rapid development and adoption of Internet and digital technologies dramatically changed business processes, leading to a disruptive digital transformation of the whole industry value chain. As we create a coherent vision for India’s place in modern economy, it is important to create a supportive ecosystem and facilitate the vision of ‘Vocal for Local”.
Dr Janmejaya Sinha, Chairman, Asia Pacific, BCG said that today the technology, data and digitalization are reshaping the industry and the Government policies need to be realigned to facilitate higher growth. Today all top ten companies are technology driven ones and there is a need to make 2020-30 as India’s era
William L Blair, Chief Executive, Lockheed Martin India Pvt Ltd said that today every organization needs to adopt to technology and need to prove capabilities. Collaborations and technology transfer are going to drive the success in future
Suchitra Ella, Joint Managing Director, Bharat Biotech International Ltd shared the successful journey of Covaxin. She said that India is producing about world’s 60% of vaccines of which about 70% are produced in Hyderabad. The company is only organization in India which has developed more than half a dozen new molecules in vaccine development. Phase-III trials were conducted on 26,000 volunteers in 25 medical institutions under third party monitoring. The Company is gearing up to meet the needs of India and the global market she added.
Strategic manufacturing is a key driver for propelling the growth of economy: Uday Kotak
