The chamber said “The strategy rests on the supply of indigenous quality raw materials at low relative cost, cost effective technologies for conversion into products, packaging, transportation, storage, delivery and service.”
According to the chamber it also depends on adequate size of domestic market for achieving economies of scale and scope, intense domestic competition, visionary and competent management, which can formulate and implement robust business strategies and include marketing and manufacturing strategies.
The chamber said that there is a need for mobilisation of financial and human resources and supportive physical and social infrastructure and work culture.
A press release issued by Assocham said “The analysis shows that value added growth in the registered manufacturing sector achieved in the eight year period since 1991 has been lower than during the first 15 years of Indian planning or that achieving during the second and third five-year plans, when a conscious attempt was made for the development of basic and heavy industries.”
It said “Growth recorded during the reforms of the 1990s has been worse than that during the reforms of the 1980s, when the control mechanism was sought to be reformed without negating the role of the government.”