ipl-logo

Competitiveness In Manufacturing Sector Essay

1408 Words6 Pages

INTRODUCTION
India’s Competitiveness in Manufacturing Sector

With the global economy recovering from a sluggish performance and growth rates improving across the world the Indian manufacturing sector is on an evolutionary path. Manufacturing today encompasses factors such as production, sales, distribution, logistics, customer service and support. The process not only involves making of physical products but also delivery of the final product. With the advent of fast change in new technology, there has been shift from the meaning of actual resources to be utilized by the country. The most important resources to be exploited today are technology, creativity, knowledge and capital. These transformational shifts are the drivers of wealth …show more content…

There is a strong association between manufacturing GDP and overall GDP and the strength of the relationship appears to be true for emerging economy nations like India. Higher manufacturing growth drives higher total overall GDP. New government major initiative ‘Make in India’ aims to attract manufacturing sector investment resulting in increased development. With the major objective of eliminating bottlenecks such as infrastructure, labour regulation, labour reforms and taxation and empowering India to be the next global manufacturing hub. Keeping the competitors in view, with manufacturing costs rising in China there is a golden opportunity for India to acquire a major share in the global manufacturing …show more content…

Growth drivers which will increase demand for the service sector are rising population, increasing income, rapid urbanization and changing consumer preferences.
Major barriers and reforms faced in the service sector industry are:

a. Service sector focus in policy-making: Due to high focus on agriculture and manufacturing, there is no government policy on how inclusive growth can be measured. This is a major barrier faced by service sector and the government should design a policy which forms standardized policies and see that the strategies are implemented.

b. Regulatory Reforms: Current regulatory reforms are comprehensive in nature and do not take into account certain specifics of new services. Thus, regulations should be transparent and non-discriminatory.

c. Service sector employment and education: Quality education is necessary to create employment in the service sector. Thus, government should create more public-private partnerships to design training programs and courses. Quality of education should be improved by focusing on vocational training and proper accreditation

Show More
Related

  • Theme Of Inequality In Of Mice And Men

    1010 Words  | 5 Pages

    Wealth, race, gender, and mental illness has torn society apart and lead to inequality. These major reasons for inequality has affected everyone in its path leading to major consequences as well as issues and problems. In China, a new found wealth has left the social classes more divided and issues are beginning to rise. Meanwhile in the U.S., wealth is destroying students and unequal views toward specific types of people are weakening the patriotic bond. To begin, there are many types and factors that play a part in inequality and the consequences of societies from it, but one of the main reasons and apparent factors is wealth.

    Read More

  • The Relentless Revolution Joyce Appleby Analysis

    739 Words  | 3 Pages

    The Relentless Revolution by Joyce Appleby is the narrative of capitalism that starts with the voyagers of the 16th century, winds through the 18th and 19th centuries, and continues on through the 1970’s then past that into modern capitalism. Within this long historical narrative, the author’s main argument is to tell the story of capitalism, and how it developed from an idea to an international system. Appleby described the book by saying “This is not a general study of capitalism in the world, but rather a narrative that follows the shaping of the economic system that we live with today” (Appleby 4). Her argument is that the story of capitalism is not a step by step process as some have claimed, rather it is a constant, messy passage from one discovery to the next.

    Read More

  • 1865 And 1920 Industrialization Analysis

    991 Words  | 4 Pages

    During this time period, real per capita product in the United Stated more than doubled and real Gross Domestic Product multiplied by over 7 times (Lamoreaux, 2010). The higher growth rates of total relative to per capita Gross Domestic Product indicate that the economy grew more by adding new inputs than it actually did through increasing productivity. The fast growing markets of the United States provided new opportunities for profits that entrepreneurs responded to. For instance, Andrew Carnegie responded to the opportunities and created Carnegie Steel and he

    Read More

  • Captain Of Industry Essay

    643 Words  | 3 Pages

    The Captains of Industry were certainly one of the most important factors in the development of United States in the period directly after the Civil War. While there is some merit to the argument that the industrial leaders were Robber Barons that did more harm than good, their contributions to American society clearly outweigh those negatives. The Captains of Industry quite literally revolutionized the American way of life that gave the U.S. the highest standard of living in the world prior to the outbreak of World War I. This was made possible due to the emergence of corporations in areas such as finance, steel, oil, and railroads. When these men combined with other factors, such as the mechanization of agriculture, immigration, migration,

    Read More

  • How Technological Innovations Changed From 1865 To 1920's

    1368 Words  | 6 Pages

    “Technological advancements led to economies of scale; these favored wealthier

    Read More

  • Robber Barons Book Report

    1282 Words  | 6 Pages

    The industrial revolution brought many great inventions and innovations into the world, especially to America, the new world. The United States had many resources available and more importantly for Americans could utilize them for the nations gain. Many businessmen took advantage of this opportunity by building up their businesses and wealth to a standard that many people still look to as a standard of greatness. Many historians have their take on how the men of the industrial revolution changed not only America, but the rest of the world as well. Authors, Charles Morris, Matthew Josephson, and James Nuechterlein point out to historians that the world is full of many different angles and ideas that one can view regarding the Robber Barons or the successful men of the industrial revolution.

    Read More

  • Egypt And Usa Similarities

    1348 Words  | 6 Pages

    One of the most well-known economic industries in America is manufacturing. Manufacturing contributes $ 2.09 trillion directly to the economy. This industry is expanding and growing in the USA meaning there is an increase in the outcome of this industry. Many people work in this industry which means that they earn money, and no one is poor anymore in the USA. Because of many people working in manufacturing, the economy of the USA has increased dramatically.

    Read More

  • External Environmental Issues In Financial Services Organizations

    1759 Words  | 8 Pages

    The major issue over here was the knowledge skills of the staff which was already employed in the financial services sectors. Thus an extensive analysis of the employee’s qualifications was indispensible, so that all the employees which went to meet the customers should have minimum training as desired. If the employee did not have the required skills then the organization needed to establish proper training courses, so that the employee standards could be met. Thus the General Insurers a financial services organization had to reorganise the duties of employees after merger and legislative changes were brought in the company in relation to FSRA (McDonald and Jackling, n.d.).

    Read More

  • Health Inequalities Essay

    894 Words  | 4 Pages

    Some actions need to be carried out to improve the employability and also working conditions in low-status work. Government needs to improve access to good and non-hazardous jobs, expand on free trainings (skill acquisition) but most importantly, Government policies have to include provision of sustainable work, with fair hours and wages within a safe

    Read More

  • Case Study Of METRO Cash & Carry

    1229 Words  | 5 Pages

    The sector is witnessing a radical change as traditional retail markets are replacing with new formats such as discounts stores, departmental stores, hypermarkets, supermarkets etc. In this competitive environment the retailers are more forced to concentrate towards Customer service & their satisfaction. In retail stores, the customer service is includes like counter service, billing the products, offer explanation to customers, providing them coupons, explain the product

    Read More

  • Ted Baker Competitor Analysis Essay

    1251 Words  | 6 Pages

    3.0 Industry and Competitor Analysis The fashion industry in the UK, Europe and the US has several players who compete for the rich market niche. Compare to its competitors in the clothing and accessories industry, Ted Baker performs very well as evidence by its improved financial ratios e.g the EPS over the past five years. 3.1 Industry Overview The high-street fashion industry is dominated by several firms but Ted Baker is continually winning attention in that industry.

    Read More

  • School Exclusion

    1763 Words  | 8 Pages

    The main idea of this White Paper is to extend the policy foundations, frameworks and programmes of existing policy for different education and training so that our education and training system will recognise and accommodate the various range of learning

    Read More

  • Essay On Wealth Inequality

    1815 Words  | 8 Pages

    And assets being the stuff that you own: your car, your house and your cash money is also an asset. It is the job of the government, leaders and citizens to ensure that the wealth and income is distributed equally among the population. However, when this fails due to corruption, discrimination among other causes the country is unable to move forward economically, further leading to poverty and civil unrest and other consequences. Surprisingly, statistics show that wealth inequality is not limited to only developing countries, but also some of the most developed countries. America, Israel and Greece are one of the countries with the worst income inequality.

    Read More

  • Principle Centered Leadership Summary

    1912 Words  | 8 Pages

    • Remove barriers that rob hourly workers, as well as management, of their right to pride of workmanship. Allow everyone to take the pride in workplace and comparing them with others. 13. • Institute a vigorous program of education and self-improvement for everyone. Employees must be up-to-date with the current situations in the market and prevailing trends.

    Read More

  • Literature Review Of Customer Satisfaction In Restaurant Industry

    1284 Words  | 6 Pages

    In today 's reality, service industry is ruling the business world. Presently Service Industry is biggest developing territory of business in creating nations. Amid the previous couple of decades consumer loyalty have ended up real ranges of regard for analysts. Enhance administration prompts more noteworthy fulfilment and eventually build productivity.

    Read More

More about Competitiveness In Manufacturing Sector Essay

Open Document