India's manufacturing strategy: Global perspective

The Indian manufacturing sector has shown remarkable results in the recent past. Manufacturing is the logical engine to provide employment growth in India, because the work force in the organized sector - a core engine for growth - is currently only eight percent. The challenges are significant. There are numerous constraints to growth, and India has its work cut out as it makes the transition from being an attractive labor pool to a global manufacturing power. While focusing on operational efficiency, innovation, high-tech research and development, India needs to reform its fiscal policy, labor laws, regulatory system, foreign investment policy etc. in order to attract all the top manufacturing giants of the world by offering them world class facilities.