The rise of manufacturing in India- Understanding the trends
A brief insight
The sector of Heavy fabrication companies in India started developing soon after the country’s independence and before this, it was completely dependent on imports. All types of heavy engineering processes like Gayath Heavy Engineering Private Limited are involved with producing consumer durable items, and goods, and these are further classified into industrial machinery, power generation equipment, transport like rail and aircraft, and shipbuilding equipment. All of these major industries are driving the economy.
Today India is the 9th largest economy and has a $2.3 trillion GDP. Yet only 16% of the country’s GDP is used in manufacturing processes. Recognizing this aspect, India is now focussed on increasing manufacturing and production units and caters to the rest of the world.
Industrial machinery and its scope
These units of Heavy fabrication companies in India are majorly responsible for the production of fertilizers, construction, iron and steel, textile, agriculture equipment and machinery, sugar, pumps, and diesel engines. All of them are heavily dependent on industrial machinery, so the scope is huge and really wide in India.
Indian cities like Chennai and Ranchi have set up major units to cater to this rising and increasing need. Apart from meeting the growing needs of these varied industries, the Heavy fabrication companies in India like Gayath Heavy Engineering Private Limited also produce sub-categorized products like crushing and grinding equipment, cranes, rolling mills, mining equipment, oil well drilling equipment, and so on. There is a huge need for industrial machinery in infrastructure as well especially coming from the fats developing cities of the country.
Machine tools industry in India
The basic foundation of the Heavy fabrication companies in India is machine tools. The wide range of tools being manufactured currently aids in the fast production and delivery for the entire country. Although Chennai is the major supplier, there are several other smaller geographical areas like Indore and Bangalore that are catering to the growing needs.
The Heavy fabrication companies in India have become robust and exhibit the potential of the manufacturing units of the country. The country has learned a great deal from its western counterparts and overcome several hurdles and challenges.
The important takeaway
A couple of decades ago Ireland and Central America were leading the manufacturing market arena for industrial processes and software as well. Today India has gained tremendous knowledge in the respective industries and also has a strong workforce. Manufacturing is the next and best frontier for this country and companies like GE and Abbott have already invested heavily.
Conclusion
From the Indian perspective, manufacturing will pave the way to eradicate poverty and help to unlock the land and labor of this country. In many countries finding skilled labor required for industrial processes is difficult and India is at a huge advantage when it comes to this. Metallurgy and its aspects are not new to this country and have been used for thousands of years. The ‘make in India’ drive has also contributed largely to this sector. There is a lot of untapped potentials here.