Bangalore, Aug 09: Manufacturing offers enormous opportunities for growth in India like information technology offered a decade ago, Sundaram Fasteners Ltd chairman and managing director Suresh Krishna said today. "This (manufacturing) is a fantastic growth opportunity for India and we should grab it," Krishna told industry leaders at Strategicon 2003 conference on "creating the Indian multinational", organised here by the Confederation of Indian Industry.
He said the manufacturing industry was moving out of the United States and Europe due to costs and competitiveness. Indian firms should leverage on the present 'labour arbitrage' to prop up the manufacturing sector in the country.
Pointing out that just good quality, delivery and price were no longer business drivers for companies, Krishna said the differentiator was on the 'value add' a firm gives to its customers.

"Companies should change, constantly innovate and drive excellence and it should be the philosophy that runs among employees," he said, adding open discussions with employees helped create drive and passion among all of them.
Calling on entrepreneurs to seek out demanding customers, who insist on timely delivery and quality products and not be complacent, Krishna said this would improve the company constantly. Bureau Report