Manufacturing
@ZibiGroup
The manufacturing industry encompasses all companies involved in the production of goods using labor, machinery, and raw materials. This sector includes various segments such as automotive, electronics, machinery, food and beverage, and textiles. Manufacturing is essential to global economies, driving innovation and productivity while meeting consumer and industrial demands for finished products.
Market size:
India’s manufacturing sector, contributing around 15% of the GDP, is expected to continue growing in 2024. Government initiatives like the “Make in India” program and Production Linked Incentive (PLI) schemes, which have allocated INR 1.97 trillion across various sectors, are driving growth. Key industries such as automotive, electronics, and textiles are witnessing substantial investments, further bolstered by India’s increasing role as an alternative manufacturing hub
Challenges:
⦿ Supply Chain Vulnerabilities
⦿ Labor Shortages and Skill Gaps
⦿ Rising Costs
⦿ Quality Control and Compliance