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Competition and logistics key to 10 per cent industry growth
Chennai, Oct 31: Observing that supply chain management was an important competitive tool, CII President Ashok Soota today called for an increased focus on competitiveness-based issues and logistics to achieve the ten per cent growth rate for the industry.
Chennai, Oct 31: Observing that supply chain management was an
important competitive tool, CII President Ashok Soota today called
for an increased focus on competitiveness-based issues and logistics
to achieve the ten per cent growth rate for the industry.
Speaking after launching a Centre of Excellence -- CII Institute
of Logistics -- here, he said manufacturing competitiveness would be
a key focus area for the CII to achieve the target of 10 per cent
annual growth rate.
Stating that the country was ranked 57 in the world economic
forum competitive index, he said it lagged far behind in the
manufacturing sector due to inadequate infrastracture.
He wondered why Chennai, with all sorts of facilities and a wide array of industries, could not become a logistic hub of the Asia-Pacific region and compete with Singapore and Dubai.
An efficient supply chain would integrate physical, commercial and informational glows of the economy, he said and added that developing logistics and infrastructure network would transform the the country as a focus area the regional as well as global market.
Pointing out that the manufacturing accounted fort only 23 per cent of the GDP, which was very strange for a country like India, he stressed the need for the implementation of an effective and systematic supply chain strategy for value implementation of resources to harness the vast opportunities and to make it part of global trade. "Supply chain will determine the success and failure of competition and acts as a competitive edge over competition", he added. This required an attitudinal change with a shift in focus to the benefits of technology, he added.
Later in a brief chat with reporters, he foresaw a gradual growth of the economy in the third quarter, despite the prevailing uncertainties over the Iraqi situation.
"The services sector had been doing well and it has been a good year for manufacturing. We have to sustain it. Following the reduction in interest rates and CRR rates, we are very positive about it and it might be a turning point for an upswing", he observed.
He wondered why Chennai, with all sorts of facilities and a wide array of industries, could not become a logistic hub of the Asia-Pacific region and compete with Singapore and Dubai.
An efficient supply chain would integrate physical, commercial and informational glows of the economy, he said and added that developing logistics and infrastructure network would transform the the country as a focus area the regional as well as global market.
Pointing out that the manufacturing accounted fort only 23 per cent of the GDP, which was very strange for a country like India, he stressed the need for the implementation of an effective and systematic supply chain strategy for value implementation of resources to harness the vast opportunities and to make it part of global trade. "Supply chain will determine the success and failure of competition and acts as a competitive edge over competition", he added. This required an attitudinal change with a shift in focus to the benefits of technology, he added.
Later in a brief chat with reporters, he foresaw a gradual growth of the economy in the third quarter, despite the prevailing uncertainties over the Iraqi situation.
"The services sector had been doing well and it has been a good year for manufacturing. We have to sustain it. Following the reduction in interest rates and CRR rates, we are very positive about it and it might be a turning point for an upswing", he observed.
Bureau Report