Manufacturing excellence and global competitiveness: challenges and opportunities for Indian industries

Abstract

The macro-economic policy reforms are opening the flood-gates of global competitive forces for the Indian economy. A strategy merely based on exports to combat the might of multinationals can prove to be dangerous, causing erosion in the strength of Indian companies in the home market. Thus, a qualitative nurturing of home market by the Indian companies prior to them being flooded with assorted consumer items by foreign companies is essential. This study analyses the manufacturing capabilities of Indian industries to face the competitive challenges and presents the new manufacturing paradigms and the distinctive competence needed to successfully compete with the foreign giants