Needs to step up manufacturing to meet 'Viksit Bharat' goal: Volvo India MD
The manufacturing sector is a weak link for India to meet its goal of Viksit Bharat, and it needs to increase its contribution to the GDP to 25 per cent if the country has to achieve its target of becoming a developed nation by 2047, Volvo Group India Managing Director and President Kamal Bali said on Tuesday.
Speaking at a symposium organised by the Indian Foundation for Quality Management, he said the country needs to cash in on the opportunity of USD 3 trillion worth of manufacturing shifting from "our neighbour to other geographies" by focusing on quality.
"If we have to become Viksit Bharat, manufacturing clearly will have to really fire on all cylinders. Currently, our manufacturing is the weak link," Bali said.
For the last 20 to 25 years, manufacturing continues to be 15 to 16 per cent of India's GDP, he added.
"Successive governments and various leaders have tried it, but the needle hasn't moved much. So, this has to change," Bali asserted.
Citing examples of countries l