India has made some progress in promoting manufacturing but there is still much work to be done to drive competitiveness, Jamshyd Godrej, CMD of Godrej & Boyce, part of the Godrej Enterprises Group, said at the CII Manufacturing Summit here on Wednesday.
Godrej believes that the government should be an enabler and ensure that gaps between policy and execution are bridged quickly. “There is a need for mindset change for India to be a manufacturer to the world. That should be the aspiration. Countries like China and others in South East Asia have long surpassed us in terms of manufacturing,” he said.
While steps such as the income tax cuts, GST rate reductions and monetary policy easing were in the right direction, the government will need to come up with simpler rules for businesses and ensure there is a sustained climate for investment, he said.
Boosting global competitiveness
Removal of quality control orders (QCOs), for instance, which was undertaken this month covering 21 inputs across chemicals, textiles, polymers and metals, would need to be accelerated, he said, to make Indian industry competitive. At the same time, he said the government should undertake promotion of Indian exports more aggressively across markets to ensure growth of Indian industry.
“We have done poorly on export promotion,” he said. “QCOs, for instance, have been detrimental to industry. While theoretically, it may work to protect domestic manufacturers, from a practical lens, QCOs impede sourcing for players downstream. This makes them uncompetitive in the global marketplace,” he said.
Speaking about newly implemented labour codes and their impact on micro, small and medium enterprises (MSMEs), Godrej said the sector faces too many rules and too much paperwork. “The MSME sector in India has been overburdened with regulation and the more that you can do to ease their regulatory burden, the better it is,” he said.
Nyrika Holkar, executive director, Godrej Enterprises Group, said that she saw the four labour codes aiding equality, empowerment and safer workplaces for women. The codes prohibit gender discrimination, mandate equal pay and open doors for women across all sectors,which could help boost women’s participation in the labour force. While India’s female labour force participation rate has doubled in recent years, experts said this has been led largely by rural women looking to supplement household income than formal employment. Women are also moving back into agriculture than diversifying, experts said.
At a broader level, India’s real gross domestic product grew 7.8% in April-June quarter of FY26, which marked the fastest pace in five quarters. The official estimates for the July-September quarter are scheduled for release on Friday, and will offer a clearer sense of the demand environment heading into the second half of the year.
Maharashtra eyes $1-trillion economy by 2030
Maharashtra aims to unlock $850 billion in investment through its new industrial policy, state industries secretary P Anbalagan said at the 21st CII Manufacturing Summit here on Wednesday. The aim of the policy was to achieve a $1-trillion economy by 2030 from $530 billion now.
This vision was anchored in region-balanced development and powered by emerging sectors such as electric vehicles and semiconductors. “With a $530-billion economy, the nation’s highest FDI share, and a young and skilled workforce, we stand firmly at the forefront of industrial and technological transformation,” Anbalagan said.
Building on this economic blueprint, industry leaders underscored the urgent need for India to seize this moment of global rebalancing in manufacturing. With the theme “Shaping India’s Manufacturing Future: Competitiveness, Sustainability & Global Leadership,” the summit convened government leaders, industry pioneers, technologists, and global strategists to chart a forward-looking agenda for India’s manufacturing transformation.