D&B launches Manufacturing India 2025
by Shrutee K/DNS
Mumbai, July 12, 2016: Dun & Bradstreet, the world’s leading provider of global business information, knowledge and insight, today, launched its publication, Manufacturing India 2025. The study provides forecasts of overall economy and manufacturing sector by 2025.
Dr. Arun Singh, Lead Economist, Dun & Bradstreet India said, “Dun & Bradstreet expects that the future holds much promise for the Indian economy. We believe that this government will continue with the policy of driving reforms in a systematic and time bound manner. Consumption as well as investment demand is thus likely to remain healthy, support overall growth momentum and push India’s nominal GDP to reach US$ 6.4 trillion by FY25 with real Gross Value Added (GVA) expected to grow at an average rate of 7.9% till FY25. The manufacturing sector is expected to be the major driver of growth in the coming decade. Even as the various challenges confronting the manufacturing sector are significant, a great start has been made to grease the wheels of the manufacturing sector. The ‘Make in India’ initiative of the Government will be a vital component in India’s quest for establishing itself as a global manufacturing hub. The various measures taken by the government in terms of measures for ease of doing business, creation of conducive environment for the manufacturing activities, focusing on improving industrial policies and FDI enhancement would aid in reviving the manufacturing sector and achieving global competitiveness”.
“We expect India to realize the target of 25% share of manufacturing in overall economy at best by 2025. Going forward, changing economics of production and distribution and frequent shifts in consumer demand will require manufacturers to adopt new process and make new products. Indian manufacturing companies will have to adapt and increase their focus on developing advanced manufacturing capabilities if they wish to stay competitive at the higher ends of the value chain” he added.
Dun & Bradstreet’s “Manufacturing India 2025” was released by Chief Guest Shri Amitabh Kant, IAS, Chief Executive Officer, NITI Aayog, Government of India; Mr. Kaushal Sampat, President and Managing Director - India, Dun & Bradstreet. Leading names from the corporate sector participated in a panel discussion on “Journey towards achieving 25% share in GDP: Accelerating manufacturing by redefining building blocks” that followed thereafter.
About Dun & Bradstreet’s Manufacturing India 2025 :In the publication “Manufacturing India 2025", D&B attempts to evaluate and analyse the prospects of the Indian economy and manufacturing sector over the next decade. The report evaluates growth prospects of the overall economy and the manufacturing sector in particular and also identified key enablers of manufacturing growth. The report outlines the current macroeconomic scenario, provides insights about future manufacturing technologies, compares the enablers of Indian manufacturing with its global counterparts and also lists down key constraints that could pose downside risks to India’s growth prospects. The forecasts made in the publication can help us to prepare for future challenges and seize opportunities that lie ahead.
About Dun & Bradstreet (D&B):Dun & Bradstreet (NYSE: DNB) grows the most valuable relationships in business. By uncovering truth and meaning from data, we connect customers with the prospects, suppliers, clients and partners that matter most, and have since 1841. Nearly ninety percent of the Fortune 500 and companies of every size around the world, rely on our data, insights and analytics.
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