India can beat China in low-cost manufacturing: Maruti Suzuki chairman1 min read . Updated: 27 Nov 2020, 09:08 AM IST
Maruti Suzuki chairman RC Bhargava said the only objective of government policies should be to increase the competitiveness of Indian industry so that it can make things at the lowest cost along with the best quality in the world.
India has the potential to surpass even China in low-cost manufacturing if the government and industry work in a cohesive manner, Maruti Suzuki India (MSI) Chairman RC Bhargava said on Thursday.
Bhargava also said the government should focus on increasing the competitiveness of the Indian industry.
"India has the capability to become a lower cost country than China if the industry and the government work together," Bhargava said.
He was sharing his views on making Indian manufacturing globally competitive at an online event organised by the All India Management Association (AIMA).
Bhargava said the only objective of government policies should be to increase the competitiveness of Indian industry so that it can make things at the lowest cost along with the best quality in the world.
"The more the industry can sell, the more jobs will be created in the economy," he noted.
Bhargava pointed out that creating jobs across sectors was important for the overall growth of the economy.
He, however, criticised states which have reserved jobs in manufacturing for locals.
"It is an anti-competitive step," Bhargava said.
He also said MSMEs have to be as globally competitive as the large companies because the entire supply chain determines the overall competitiveness.
Bhargava also noted that the industry cannot be competitive unless the promoters and managers treated workers as partners.
He pointed out that MSI owed its success to explaining to its workers that they will prosper if the company grew and backing that with policies and actions that delivered income and career growth to employees.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.