Manufacturing Excellence Conclave
The Post Pandemic Paradigm
Global to Local: Segregated to Integrated: Disassociated to Connected
12 November 2021:: 1030 Hrs : Virtual Platform
The Manufacturing sector forms the backbone of India’s economy and is key to the revival of economic growth, especially post the impact of COVID-19. Contributing to 17% of India’s GDP and accounting for 20% of the country’s workforce, the manufacturing sector offers a huge potential to enhance employment for skilled, semi-skilled as well as non-skilled workforce in the country. The sector has played a fundamental role in opening up the Indian economy to foreign investment, created opportunities for domestic manufacturers to grow and compete in foreign markets and has positioned India as one of the most attractive investment destinations in the world.
The unprecedented impact of COVID-19 has had both demand-side and supply-side impacts on the manufacturing sector. While on the supply side restriction in transport of goods and services, shut down of factories impacted production and employment, reduced disposable income and negative sentiments has impacted demand. Needless to say, the pandemic has made companies focus on strengthening local supply chains and adopt digitization and automation tools to minimize contact and increase efficiencies in manufacturing, with initiatives such as Industry 4.0 taking center stage.
Moreover, with the slowing down of the economy, cash flow crunch, low demand, disruptive supply chain and social distancing measures, businesses are being forced to adopt cost optimization practices. Today industries are investing more on Shared & Managed Services while investment in capital expenditure has moderated. Managed and Shared service providers are innovating and focusing on niche areas for outsourcing. Large and small businesses are looking for innovative ways to use outsourced services and various start-up platforms to contain cost effectively. Outsourcing is no longer an option but has become the key to success in the new post COVID economic scenario
Against this backdrop, encouraged by the earlier editions, CII Eastern Region is organizing its 9th Edition of Manufacturing Conclave at 1030 hrs on 12 November 2021 over CII Virtual platform with the theme “The Post Pandemic Paradigm -Global to Local: Segregated to Integrated: Disassociated to Connected”.