Indian Industry Key to Developed Nation Goal, Chandrasekaran

Tata Sons Chairman N Chandrasekaran has urged the Indian industry to actively engage in the country's developmental journey, which is largely in tune with the government's Viksit Bharat vision. In his speech at a symposium organized by the Indian Foundation for Quality Management (IFQM) on Thursday, he said that, amongst others, the economic, social, infrastructure, and inclusive growth require common sector leadership as the essential condition.

“For India to reach its desired objectives, industry must collaborate with the Hon’ble Prime Minister’s vision not only in one but many dimensions,” Chandrasekaran said. He added that the urge is being made at a time when the world stage is facing various challenges such as macroeconomic instability, geopolitical conflicts, supply chain disruptions, and workforce mobility issues.

He noted that despite the global challenges, India is pushing through with reforms that are to be transformative, and thus, industry must “rise to the occasion” so as to ensure that the progress is not only for the present but also for the future.

 “Quality and excellence in manufacturing and services” as a critical factor for success, Chandrasekaran said that India should be known for making and providing products and services of the highest quality when measured against the global standards. He also mentioned that growing the ecosystem, which covers companies, sectors, and stakeholders, is the way to go as it is not possible to keep the burden on one entity only.

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He highlighted the scope of the micro, small, and medium enterprises (MSMEs) as the engines of growth and urged that attention be paid to raising their level of excellence. MSMEs, he said, were the backbone of the manufacturing sector in India and the growth agenda of the country cannot go on without them.