How can india compete international market of manufacturing? 0 geography?
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By Mary Hallward-Driemeier & Gaurav Nayyar
The global economy is undergoing profound change.
New technologies are impacting prospects for manufacturing-led development that has brought rapid prosperity to many parts of the world. Today, robotics, artificial intelligence (AI), 3D printing and the Internet of Things (IoT) are reducing the importance of low-wage labour.
There is concern that Industry 4.0 —where data and automation in ‘smart’ factories transform traditional manufacturing — may make it feasible for leading firms to re-shore manufacturing back to advanced economies, and closer to final consumers. China, too, is automating rapidly and is projected to be the world’s largest user of industrial robots by 2018.
The en masse migration of labourintensive manufacturing activities to poorer economies with lower labour costs such as India may, therefore, not occur. How, then, can India
The growth of manufacturing in India has been modest — with its share in GDP largely unchanged over the last two decades — especially when compared to the services sector. Globally, too, while India’s share in global manufacturing production increased from 1.1% in the early 1990s to 2.8% in 2015, China’s galloped from less than 5% to 25%.
Even so, India has made greater progress in some manufacturing sectors. For example, since 1995, it has ranked among the top 10 exporters of labour-intensive goods such as textiles, apparel and leather products, jumping to fourth place in 2011.
The global economy is undergoing profound change.
New technologies are impacting prospects for manufacturing-led development that has brought rapid prosperity to many parts of the world. Today, robotics, artificial intelligence (AI), 3D printing and the Internet of Things (IoT) are reducing the importance of low-wage labour.
There is concern that Industry 4.0 —where data and automation in ‘smart’ factories transform traditional manufacturing — may make it feasible for leading firms to re-shore manufacturing back to advanced economies, and closer to final consumers. China, too, is automating rapidly and is projected to be the world’s largest user of industrial robots by 2018.
The en masse migration of labourintensive manufacturing activities to poorer economies with lower labour costs such as India may, therefore, not occur. How, then, can India
The growth of manufacturing in India has been modest — with its share in GDP largely unchanged over the last two decades — especially when compared to the services sector. Globally, too, while India’s share in global manufacturing production increased from 1.1% in the early 1990s to 2.8% in 2015, China’s galloped from less than 5% to 25%.
Even so, India has made greater progress in some manufacturing sectors. For example, since 1995, it has ranked among the top 10 exporters of labour-intensive goods such as textiles, apparel and leather products, jumping to fourth place in 2011.
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