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The Progressing Steps of India

The Progressing Steps of India

The motive of capital good policy is noble, but not its implementation. The policy fails to address the basic problem of lack of research to improve manufacturing units. Thus the policy fails to expand the share of manufacturing in GDP. As India is rapidly globalizing, it needs to improve its manufacturing process using better machinery, newer intelligence and better quality raw materials. Automated assembly lines and lean production techniques must be put in use. Similarly, artificial intelligence and bid-data analytics will help the Indian companies improve their productivity and increase profits. India should gear up for advanced manufacturing in areas such as aircraft manufacture, materials, microelectronics and telecommunications. Most importantly, India needs to develop a knowledge ecosystem that includes a good intellectual property regime to foster innovation and creativity. Read more at: http://blogs.economictimes.indiatimes.com/et-editorials/capital-goods-policy-contains-little-meat/

 

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