"A new report ‘Winning in Disruptive Times’ by FICCI-Wazir Advisors says, in order to compete with global counterparts, India needs to upgrade its manufacturing standards and service orientation. Also, Indian companies need to build digitally enabled smart factories besides focusing on skilling of middle and top management to build efficient and service oriented business."

A new report ‘Winning in Disruptive Times’ by FICCI-Wazir Advisors says, in order to compete with global counterparts, India needs to upgrade its manufacturing standards and service orientation. Also, Indian companies need to build digitally enabled smart factories besides focusing on skilling of middle and top management to build efficient and service oriented business.

Ability to take risk and align with emerging trends

The report was released at the FICCI TAG 2020 Seminar held in Mumbai. Presenting the report, Prashant Agarwal, Co-Founder and Joint MD, Wazir Advisors emphasised on the government’s role in neutralising cost disadvantage with global competitors and building infrastructure for producing large scale manufacturing zones. He said, we need to have better risk taking capabilities and ability to speedily align with emerging mega trends to remain in the business.

Improving product speed and quality

RD Udeshi, President-Polyester Chain, Reliance Industries stressed upon the need to improve the speed and quality of product deliveries as per international standards besides focusing on value addition and skill development. He pointed out, India’s manufacturing excellence and scale of its factories gives it an advantage over competitors like China, Bangladesh, and Vietnam etc.

Rahul Mehta, Chief Mentor, CMAI advised Indian manufacturers to start manufacturing clothes closer to the place of raw material and cheaper labor instead of being close to the market. “Agility, speed and transparency” are the key factors to win in disruptive times, felt Rajendra K Rewari, Executive Director and CEO, Morarjee Textiles. He advised manufacturers to attract young talent in the business by offering adequate remuneration.

Roadmap to deal with challenges

The theme of TAG 2020 conference was very contemporary and it offered an excellent platform for giving a clear roadmap to overcome the current challenges that the industry is facing. Applauding the conference, Sharan, Director, India Operations, Saurer Textile Solutions said that it deliberated on relevant topics such as surviving through disruptive times, sustainability, size and scale of business, investments and interventions for winning the global race. The conference upheld the view proposed by Anil Nair, President, Shubhalakshmi Polyester that India should aim to be a superior textile producer through innovation, technology, versatile fiber availability and ample manpower resources.