“It’s better to eliminate the cost than to degrade the quality”
Manufacturing has emerged as one of the high growth sectors in India. Indian government’s ‘Make in India’ program aims to put India on the world map as a manufacturing hub and give global recognition to the Indian economy. India is expected to become the fifth largest manufacturing country in the world by the end of year 2020 (Source: Global Manufacturing Competitiveness Index published by Deloitte).
What attract global manufacturing giants to India are a billion plus consumers and an ever-increasing purchasing power. India today is one of the most attractive destinations for investments in the manufacturing sector. The prominence of this sector can also be linked to the numerous initiatives undertaken by the government to promote a positive environment for the growth of the manufacturing sector in the country.
Manufacturing plays a critical role in economic development. It employs a sizeable workforce, it supports the state’s economy, it is a source of local and state funding, has a large multiplier effect in other sectors, improves living standards of their workers and the community around them. Some of the challenges that the manufacturing sector face include regulatory compliances, product relevance in an ever-changing market, logistics, skill sets training, maintenance, and constant need for innovation.
Dairy and food processing sector is one of the large sub-sectors within manufacturing. The Indian ice cream industry is one of the fastest growing segments of the dairy and food processing industry. India has low per capita ice cream consumption at 400 ml as compared with per capita consumption of ice cream of 22,000 ml in the United States and 3,000 ml in China. With the improving cold chain infrastructure in the country coupled with increasing disposable income and the changing lifestyle, the sector has great potential for growth.
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Esta historia es de la edición June 2018 de Food Marketing & Technology - India.
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