To become a developed country, India will have to accelerate manufacturing and its contribution in GDP needs to be increased to 25 percent. Kamal Bali, Managing Director and Chairman of Volvo Group India, said this on Tuesday. According to PTI news, Volvo said India needs to tap the $3 trillion manufacturing opportunity from its neighbor to other geographies by focusing on quality.
Manufacturing must operate at full capacity
According to the news, Bali said that if we have to become a developed India, then clearly manufacturing will have to work at its full capacity. At present the manufacturing sector is our weak link. He said that the manufacturing sector has remained at the level of 15-16 percent of India’s gross domestic product (GDP) for the last 20-25 years. Bali said that successive governments and various leaders have tried but the needle has not moved much. Therefore, there should be a change in this.
This would be a big step
Giving examples of countries like Germany, South Korea and China, Kamal Bali said that most of these countries have been progressing through manufacturing for 40 to 50 years. India will also be no different from this. Therefore, the manufacturing sector will have to be increased to 25 percent of GDP. However, Bali admitted that this would be a big step and it is also a challenge in a way. He said that for this, the perception of Brand India has to be changed and this perception can change only with a change in mindset on quality.
Volvo Car India had increased the prices of conventional engine vehicles by two percent earlier this year. However, the company did not make any change in the prices of electric vehicles. Volvo Car India sells XC60, S90, XC90 cars. Apart from this, the electric car also sells XC40 Recharge and C40 Recharge.
