Following the growth and rise in opportunities in the IT and technology space, the government and industry is keen on promoting growth in the manufacturing sector in the state.
The India Manufacturing Show, an event showcasing innovation in automobile, aerospace, energy sectors that happens once in two years, will be hosted in the city from September 11-13, 2014.
The state government expects this event to improve the job and growth scenario in the sector.
Commissioner for industrial development and director for industries and commerce, Karnataka, Maheshwara Rao, says the event will allow companies to explore Karnataka as an investment destination.
“We are committed towards increasing the manufacturing base in the state. Large-scale events will also provide relevant exposure to small and medium enterprises in the state,” says Rao.
Currently, the share of manufacturing to the state GDP is 17%. Rao says the government is committed to increasing it to 22-25% in the years to come.
Sectors like aerospace and defence engineering, automation and robotics, automobile and components, metallurgy and mining, industrial engineering, energy and environment, and infrastructure will be the focus areas at the show. The first edition of the Manufacturing Show was held in 2010.
Co-founder of Infosys, Kris Gopalakrishnan, says Bangalore has for long been known as an IT destination. “The city has the capacity to become the manufacturing capital as well. Manufacturing will also help growth in tier II and III cities in Karnataka through job creation.”
Experts say the past year has been slow in terms of growth for the manufacturing sector, more so for automobiles, with a steady decline in sales.
Therefore, large manufacturing events that provide exposure to companies here, besides allowing foreign firms to invest and create more jobs, can give some boost to the industry.
According to vice-chairman of Toyota Kirloskar Motors, Vikram Kirloskar, the manufacturing industry has to grow faster than the GDP to provide jobs at all levels. “The only way to grow manufacturing is to make sure that policymakers develop an environment that promotes competitiveness. India has a good source of raw materials, manpower,” says Kirloskar, adding that the sector has to focus on two strategies, namely Market India and Factory India.
“Market India to attract investors to produce products for the Indian market. And Factory India to manufacture for exports.”