As a developing nation, India is making huge strides toward the development of the manufacturing sector realizing its potential to contribute toward economic growth and amount of employment it can generate. In India, manufacturing is emerging as one of the high growth sectors due to increasing number of educated population & skilled labor.
There is potential for the sector to account for 2530% of the country’s GDP and create up to 90 million domestic jobs by 2025. While growth of manufacturing is necessary for the economic development, it is also essential to look into the challenges that emerge.
India’s manufacturing sector is in a continual state of transformation and in the era of sustainable development, manufacturers are embracing the new paradigm of green growth to create environmentally conscious industrial operations for the future.
Companies have observed that only economic pursuit is no longer sufficient in this age of sustainable development as it has become essential for them to attain the business objectives while meeting the needs of environmental safety. Businesses are going through a phase of evolution which is considered as significant as industrial revolution where the emphasis is more on ‘Green manufacturing processes’.
This story is from the September 2020 edition of Manufacturing Today.
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This story is from the September 2020 edition of Manufacturing Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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