As per FedEx, India is anticipated to grab a just transition in the global manufacturing industry, and it will be a source of the leading company’s good revenues, according to Raj Subramaniam, the Chief executive of FedEx Corporation. Speaking at an Indiaspora Forum for Good event held in Abu Dhabi, Subramaniam mentioned the leading business market, India, and its interest among the countries in the world as the crucial reasons that have made this happen. India’s share of total world manufacturing is currently 2.8%.
Nonetheless, the government, as a private sector, follows its policies, refuses interference from the government, and has to do so because only that way can effective operations be maintained and productivity be kept at a maximum. The company’s commitment to the increased access of multinational companies and further reallocation of foreign direct investment is leading to the country’s potential prevalence of the third-largest economy in the world by 2030.
Subramaniam, who has the honor of being Vice chairman of the US-India strategic partnership forum, the main topic of flash sessions turned to India’s attractiveness as a manufacturing hub. He told people, “Doubling the Indian manufacturing industry within two years would be a pretty big thing.” The world is not stopping in the age where we are seeing global supply chains reshaping as companies are moving toward different partners to manufacture their products.
The global economy has, therefore, been strongly interconnected, which has brought business prospects to the Indian entrepreneur. Subramaniam advised the Indian diaspora to be a part of such gains in the Indian economy and suggested win-win deals through these synergistic partnerships, leading to exponential growth. And then, Kumar, the founding member of Indiaspora and the executing Director of Celesta Capital, chimed in, extolling the achievements of the makeup of the manufacturing sectors in India with industries like automobile production.
The intensifying trend of global supply chains to reinforce redundant routes and diversify will undoubtedly intensify the transition to the expansion of manufacturing capabilities in India. Clearly, this trend, in conjunction with the improvement of the infrastructure and the implementation of supportive government policies, finds India in a better position to be able to immensely gain from the changing global manufacturing scenario and to double its size in the global market by 2027.
