India’s manufacturing sector contributes about 15% of gross domestic product, but prolonged feeble sentiments have hit the order books, production, capacity utilisation… (We can see you’re dozing off!)
But for most of us who have written off domestic manufacturing as dead and buried, it’s time to wake up and smell the coffee. First, the good news.
Global aerospace giant Boeing recently said it will hire 1,500 more engineers to drive digital innovation at its engineering and technology centre in Bengaluru.
German engineering major Siemens, which is giving a big push to its digitisation drive in India, will hire 4,000 people over the next two years, primarily to strengthen its research & development (R&D) centre and digital innovations. Not to be left behind, Indian conglomerates are also ramping up rosters.
Tata Steel has hired 100 fresh graduates over the past year as it looks to diversify its product portfolio, support expansion and acquisitions. “In April-June, we increased hiring from campuses as well as laterals. More is on the anvil,” says Suresh Tripathi, its vice-president, human resource (HR) management. That means 700 white collar executives and about 500 blue collar workers this year alone.
At Vedanta, despite the Sterlite copper smelter shutdown in Tuticorin, there are plans to ramp up production and revenue by 50% in the next two years. It has hired 2,000 in the previous fiscal, including fresh engineering and management graduates, as well as from laterals. This year, the idea is to add the same headcount to support its organic growth. “We are also looking at talent from places such as the Middle East, South East Asia, Europe and the US to support our R&D and thrust towards digital transformation,” says Suresh Bose, head, group HR, Vedanta. “After four years, there’s a spurt in manufacturing, led by better-than-expected private investment recovery,” agrees Siddharth Jain, director, Inox Group, which supplies industrial gases to plants. “Our products are a great proxy for manufacturing trends and we see same-client order volumes rise.”
It’s a similar story at wind turbine supplier SuzlonNSE 0.69 % Energy, which is seeing a 24% increase in hiring and an increase of 31% in indirect jobs from FY15 to FY17.
“The whole business is seeing an upturn,” says JP Chalasani, group chief executive, Suzlon. “In the wind sector, business is seeing huge growth and that is helping the cause of Make in India and unleashing our potential as a manufacturing hub.”
Read more at: Economics Times