Time for action to make India global manufacturing hub in post-coronavirus world: Industry experts
FirstpostIndia can be the destination of choice for global manufacturing in the post-COVID 19 world if it gets its acts together with the right policies as a lot of things are going for the country, say industry experts Bengaluru: India can be the destination of choice for global manufacturing in the post-COVID 19 world if it gets its acts together with the right policies as a lot of things are going for the country, say industry experts. Areas like drones and robotics would see major investment and research going forward in India, which would move faster into the digital age, they said, discussing opportunities for the country once the coronavirus-inflicted situation returns to normalcy. Secretary-General of industry body ASSOCHAM, Deepak Sood, said there is a broader consensus that the global manufacturing supply chain would be more spread than concentrated in major economies like China. Retain lower interest rate regime, stay nimble and act quickly as and when a sector starts showing any stress.” He said that hospitality, transport, airlines and exports are being crushed the most by the health crisis, and these sectors would need special revival packages in the form of interest subvention, subsidy for repairing the impaired assets, reduction in taxes, including GST and other levies.