Specials

Only Quality And Tech Can Help MSMEs Win

Top CEOs at the Outlook Business Smart Enterprise event debate whether Make In India is a threat or opportunity for MSMEs 

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Published 5 years ago on Jun 15, 2016 15 minutes Read
Photographs by Soumik Kar, Ra Chandroo, Vishal Koul

N MAHALAKSHMI: I am sure you have heard this story. Two people are sent to a village to find out if there is a market for shoes. One comes back and says nobody wears shoes so there is no market. The other comes back and says nobody wears shoes so there is huge potential and we should go and capture the market. India’s story is somewhat similar. A couple of years ago, people would say China was way ahead in manufacturing and India had missed the bus. But ever since Prime Minister Narendra Modi initiated the high-decibel ‘Make in India’ pitch, talks are now centered on how to crack manufacturing. Companies are talking about making it their central agenda. But the fact is that things are never as good as they are made out to be nor as bad as they seem. India has huge local market potential, but when large companies come, their suppliers and feeder industries follow. More so in today’s environment when growth is tapering in other parts of the world, foreign suppliers are looking to come and set up in emerging markets such as India. Is ‘Make in India’ then an opportunity or a threat for Indian companies?