Illustration: Ajaya Mohanty
Indian companies are optimistic about the prospects of the Indian economy
more than the global economy.
A staggering 63 per cent of the respondents surveyed by PwC Strategy& FICCI said they expected growth to range between 7 per cent and 8 per cent. On the other hand, 62 per cent of the respondents are uncertain about the prospects of the global economy.
The report, The India Manufacturing Barometer, spans eight key sectors — automotive and auto components, cables and transformers, capital goods, cement, chemicals, downstream metals, packaging, and plastics and polymers.
The report suggests manufacturing companies in the country are now spearheading growth through innovation.
It also shows that firms are looking at new investments to control the entire value chain of the life cycle of products, which is geared towards increasingly individualised customer requirements.
The report maintains that the next wave of technological breakthroughs, such as mass-scale 3D printing of small components, super-critical spares and safety equipment, are likely to arrive in the next 12-18 months.
When making such investments, companies are looking to reap multiple gains.
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