Sunday, July 14, 2024

NITI Aayog Initiates Research Bids to Propel India into a Global Manufacturing Hub

NITI Aayog is set to conduct a comprehensive study to identify key sectors that can elevate India to a global manufacturing hub. Inviting bids from nine institutions by February 14, the Aayog aims to analyze factors such as manufacturing trends, industrial capabilities, infrastructure, policy frameworks, and market potential that can drive India’s manufacturing growth.

The institutions invited to bid include Aeon Market Research, CRISIL, Ernst & Young, Nangia & Co, KPMG Advisory Services, SR Asia, ISID, NCAER, and Projection Strategy. The selected consultant, chosen through the Quality and Cost Based (QCBS) selection method, will be required to submit the research report within four months.

With a focus on favorable demographics, a skilled workforce, and growing economic prospects, the government believes that India can attract substantial investments and emerge as a preferred manufacturing destination. The study aims to map India’s manufacturing sector on a global scale, analyzing future trends, industrial capabilities, and market potential to identify sectors with significant growth opportunities.

The selected consultant will be tasked with assessing the current state of various sectors, considering production capacity, technology adoption, and export potential. Strategies and interventions to overcome challenges and promote growth in the identified sectors will be recommended to establish India as a global manufacturing hub.

The study will encompass primary research through surveys, interviews, and case studies, engaging industry experts, policymakers, and stakeholders to develop recommendations and strategies for sectoral growth. It will also delve into infrastructure requirements, policy frameworks, and global manufacturing trends to position India competitively on the global manufacturing landscape.

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