'Manufacturing sector can grow at 14% by adopting automation'
"India can achieve 14 per cent growth in manufacturing sector on a sustained basis, if we adopt automation to raise productivity and reduce costs," he said while addressing CII's International Conference on Cost Effective Manufacturing here.
Also, he said, the country can create 100 million gainful jobs by 2020, if business cycles and innovation are properly understood.
In December 2012, the manufacturing sector registered a contraction of 0.7 per cent as against a growth of 2.8 per cent in 2011.
Also, the government has envisaged a number of steps to give a boost to the sector under the National Manufacturing Policy (NMP) 2011.
The policy aims to create 100 million jobs within a decade and increase the share of manufacturing in the country's GDP to 25 per cent by 2022 from the current 15-16 per cent.
Shankar emphasised that adopting automation and cost effectiveness is critical for the manufacturing sector to survive, grow and compete globally.
"Today, cost effectiveness and best use of energy is not just an option but a dire need because all markets and economies are open now. Competitiveness along with price and quality are critical for the sustained growth of the sector," he said.
Sharing similar views, CII Northern Region Deputy Chairman Jayant Davar said, "We have to focus on quality, price competitiveness and a clean environment. Automation,
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