‘Innovation imperative in manufacturing’

Posted: Wednesday, Dec 14, 2005 at 0504 hrs IST
Updated: Wednesday, Dec 14, 2005 at 0504 hrs IST

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Mumbai, Dec 13: In an economy where manufacturing’s share in the GDP is shrinking, innovation becomes an imperative. This was stated by chairman of the CII Manufacturing Summit and CMD, Godrej & Boyce, Jamshyd Godrej at the inaugural session of the first day of the 4th Manufacturing Summit being held in Mumbai.

According to Mr Godrej, “In order to gain a competitive edge over China in the manufacturing sector, India should strengthen its people management skills at the shop floor. Competitiveness should be generated based on the people at the shopfloor. Innovation is the process of transforming new ideas to create value for internal and external customers by breaking an existing compromise.”

Mr Godrej stressed the need for manufacturing companies to be more innovative, leading to a win-win situation. While delivering the keynote address J J Irani, director, Tata Sons said, “We need to solve our own problems and should not be dependent upon other countries to solve them. We can solve our problems by focusing on fundamental research.

UK was one of the leading economies of the world till the 19th century, which was overtaken by US because of that country’s focus on fundamental research.”

“Even 50 years after independence, manufacturing was restricted in our country. Most of the goods were imported, we did not focus enough on research and development. We were woken up only after 1991 and now we have to take a lead in fundamental research, if we want to improve our manufacturing. We have to build our future” Mr Irani added.

“India should set the benchmark for innovation globally. It should be a part of the vision for every company,” said Arun Maira, chairman, Boston Consulting Group, India, while talking about the Indian manufacturing Vision 2020. “Leadership should drive manufacturing, or else we shall be islands of excellence,” said Surinder Kapur, chairman, Sona Koyo Steering Systems Ltd.

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