India has risen 16 places to be ranked 39th in the Global Competitiveness Index according to the World Economic Forum and this comes at a time when the world is facing a fragile global economic recovery and geopolitical turbulence. Globally it is expected that countries which demonstrate growth will be the ones that are at the forefront of competitiveness by driving innovation and productivity ably supported by conducive economic policies. The probusiness, pro-growth stance by the present government and initiatives like “Make In India”, “Digital India” and Skill India” seems to be in the right direction to increase contribution of manufacturing to 25% of GDP.
Over the years, Frost and Sullivan has worked closely with the industry in chalking out strategic roadmaps and endeavored to serve as a guide towards building Future Ready Factories. With the launch of the India Manufacturing Excellence Awards 14 years ago, Frost & Sullivan has partnered with over 600 different manufacturing companies in India to enhance their manufacturing competitiveness using a global framework for mapping excellence. Indian manufacturing maturity has increased at a rapid pace year on year and certain industries have set global benchmarks as well!
FICCI, the oldest apex business organization in India, has been closely involved from the pre-independence era through the industrialization age and towards emergence of the nation as the most rapidly growing global economy. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry.
While Frost & Sullivan has been engaging with companies from the grass root level, FICCI on the other hand has been actively representing the industry requirements to policy makers. Both the organizations have partnered to drive the common agenda of propelling Manufacturing growth with an objective of enhancing India’s manufacturing competitive advantage.
Frost & Sullivan and FICCI will be jointly hosting “India Manufacturing Excellence Awards” henceforth.