Venu Srinivasan, the Chairman Emeritus of TVS Motor Company and a Board Member of Tata Sons, has called for a significant uplift in India's manufacturing standards to secure a greater share of global production. Speaking at an Indian Foundation for Quality Management symposium on Monday, Srinivasan asserted that while India has reasons for confidence, it still has a "long, long way to go" to meet and surpass international benchmarks.
India's Path to Global Manufacturing Competitiveness
Srinivasan highlighted the need for India to raise its quality bars to levels seen in manufacturing powerhouses like Korea, China, and Japan. He stressed that merely relying on cost-competitiveness would not be sufficient to realize Prime Minister Narendra Modi's vision of 'Viksit Bharat' (Developed India) by 2047.
"Our prime minister gave us a vision of Viksit Bharat by 2047, and this cannot be built only on cost. This has to come from innovation, product design, and therefore being a company that is not just made in India, but designed and made by India," Srinivasan stated.
He underlined that the ultimate goal for India's manufacturing sector must be to build global trust in the quality of its products, making "India synonymous with the word quality."
Building Trust and Quality Reputation
Tracing the historical association of countries with quality manufacturing, Srinivasan noted how nations like Britain, Germany, Japan, Korea, and China established their reputations over time. He challenged India to quickly join this league, where an "Indian product" automatically signifies a "trusted product."
Srinivasan, who recently received an honor from the International Academy for Quality, reflected on his career-long dedication to quality processes, noting that business growth was a direct result of this perseverance. His comments underscore a critical strategic shift required for India to truly become a global manufacturing leader and not just an assembly hub.
Innovation Over Cost-Cutting
- Focus on product innovation and design.
- Elevate manufacturing quality to global standards.
- Build international trust in 'Made in India' products.
- Move beyond mere cost advantages for long-term growth.
The call to action from a veteran industrialist like Srinivasan emphasizes that for India to truly win in global manufacturing, a fundamental transformation towards quality and innovation is imperative.