Thrust On Technology, Product Development Crucial For Make In India: Mahindra

A 360 degree thrust has to be given to manufacturing goods in the country, Goenka said.

He said that the ensuring ease of doing business in India is also not enough since this alone is not sufficient to get to ‘Make in India’. “Make in India has four components,” he said, highlighting that it entails Indian companies making in India for domestic market and exports and MNCs making in India for the domestic market and exports.

“Each of these four dots require a different thrust and actions to get each one of these to succeed. We need to keep that distinction in mind as we make our policies to promote Make in India. it will require tremendous effort from everyone concerned,” he said.

Noting that India needs to increase its share of having more MNCs based in the country and manufacturing for exports, Goenka said India’s share is very small as compared to China.

“India’s volume right now is very small for a country of India’s size. India’s manufacturing by and large is happening for Indian markets. If you want to be called a manufacturing nation, there has to be a lot of manufactured product export from India. We have fallen short of that,” he said.

Goenka said for Mahindra to participate in the Make in India drive is “very natural” and “we would be delighted if Indian manufacturing comes to age and becomes known globally, not just for low cost goods but for quality and technology as well.”

On the company’s plans for the U.S. market, he said Mahindra “continues to have aspirations” to bring its automotive products into America.

“We are looking at the right products and the right timing,” he said adding that it is looking at products of its South Korean arm Ssangyong coming into the U.S.

“It might happen that Ssangyong will come into the U.S. before Mahindra does,” he said.

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