B2B startup economy key for Make in India: Deepak Bagla

Synopsis
“In my opinion, startups are doing exceptional work and are making concerted efforts towards consolidating the manufacturing ecosystem in India, bringing in efficiencies much needed by the industry,” Bagla said on Wednesday at Zetwerk Dialogues, a public advocacy programme aimed at raising awareness about opportunities in India’s manufacturing, infrastructure, and supply chain ecosystem.”

The business-to-business (B2B) startup economy has been contributing to some remarkable work bringing in innovation that is translating ‘Make in India’ growth story, Invest India CEO Deepak Bagla has said.

These are the kind of passionate and young start-ups which will play an instrumental role in evangelizing and disrupting innovations which are made in India,” Bagla said.

He added that strategies are being worked out to focus on the products which are in high demand and are being imported as of today despite having the manufacturing capabilities at home.

“It is important to identify such sectors, products and existing capabilities to consolidate the manufacturing space to eventually strengthen India’s position on the global supply chain map,” Bagla said.

India has already announced an outlay of Rs 1.97 lakh crore for production-linked incentive (PLI) schemes for 13 key sectors to improve domestic manufacturing and reduce the country’s dependence on imports.