New Delhi: India ranks second, in terms of manufacturing competence as per the 2010 Global Manufacturing Competitiveness Index; a result of the collaboration between Deloitte Touche Tohmatsu and the US Council on Competitiveness.
"In less than a decade, a new world order for manufacturing competitiveness has emerged along with a tectonic shift in regional manufacturing competence," the report said. Furthermore, the detailed report highlighted that the rise in the manufacturing competitiveness of three countries in particular—China (10), India (8.15) and the Republic of Korea (6.79)—appears to be parallel to the rapidly expanding and important Asian market.
"Perhaps more surprising is that India is now positioned at number two and gaining an even stronger foothold on that position over the next five years," the report said. In addition, the report brought to light India's rich talent pool of scientists, researchers, and engineers along with its vast, educated English-speaking workforce and the democratic administration; in all making it an attractive destination for the manufacturers.
Noting that since the mid-1990s, India's software industry has increased to new heights and post-economic liberation has also opened a pathway to unprecedented market opportunities for Indian manufacturing, the report said moreover, beyond low-cost, Indian manufacturers gained experience in quality improvement and Japanese principles of quality management, with the largest number of Deming Award winners outside of Japan.
The report further points out that "The country is also rapidly expanding its capabilities in engineering design and development and embedded software development, which forms an integral part of many modern-day manufactured products."
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