India's manufacturing sector will grow despite drop in GDP growth rate-International Research Institute for Manufacturing

ANI | Updated: Sep 26, 2017 13:47 IST

Gurugram (Haryana) [India], Sept 26 (ANI-BusinessWire India): In a panel discussion conducted during the annual awards ceremony of the National Awards for Manufacturing Competitiveness, all panelists were positive about India's growth potential in manufacturing.

Anand Louie, director, International Research Institute for Manufacturing (IRIM) while addressing the gathering insisted that India's manufacturing sector would see growth. He also emphasised on organisations developing unique competitive strategies to excel in their relevant markets.

TN Manoharan, Chairman, Canada bank was the chief guest for the program. He mentioned that the government is making many long waiting judicial and policy reforms. He was confident that a similar trend of high FDI inflow will sustain through such positive changes.

The Hyderabad unit of Schneider Electric Pvt. Ltd. bagged the top award for the evening and the Nagpur unit of Mahindra and Mahindra, Farm Equipment Sector was the runner-up, followed by Aditya Cement Works of Ultratech Cement Ltd. second runner-up respectively.

IRIM evaluates a manufacturing plant based on their ten indicators of manufacturing competitiveness. IRIM deploys a proprietary method called the priority-adapt process to make these more relevant to organizations despite hailing from different markets and varied backgrounds.

An interesting trend that was observed during the program was that public sector firms like Balmer and Laurie Company, Bharat Petroleum and Hindustan Petroleum performed on par to many multinational organizations. Senior delegates from these organizations explained that this was due to the adaptation of technology at various levels.

This was the fourth edition of the program that was conducted at the ITC Grand Maratha, Mumbai on the September 22 in India. IRIM has seen almost a two-fold increase in the participation compared to the previous years.

International Research Institute for Manufacturing is a professional body involved in the research, consulting and training activities with top manufacturing firms. (ANI-BusinessWire India)