'Manufacturing' A Win-Win Situation

The established global manufacturing dynamics are undergoing radical changes with India’s emergence to the equation. According to the Department for Promotion of Industry and Internal Trade (DPIIT), India received a total foreign direct investment (FDI) inflow of $ 58.77 billion last year. We are at a watershed moment in manufacturing on the road to becoming a major global manufacturing hub with a projected capacity to export goods worth $ 1 trillion by 2030. Furthermore, by implementing several schemes and policies, the government plans to draw 25 percent of the economy’s output from manufacturing by 2025.

The opportunity is humongous. But one of the challenges is bridging the skill gap and attracting talent to the

industry. This takes us back to one of the most ventilated subjects the gap between industry and academia. This time, academia can’t really afford to leave the job of filling this skill gap to someone else. It’s beyond any reasonable doubt that academia must develop programs to attract more talent to manufacturing and guide them to leverage the fantastic opportunities ahead. But we can’t turn a blind eye to the already established workforce either. It’s important to provide them with an opportunity to reintegrate into the global pace and learn new skills according to the demand

The Vellore Institute of Technology (VIT) is setting an example for this through its recently launched B. Tech Manufacturing Engineering program. VIT and Schwing Stetter India Private Limited have signed an MoU to offer this program to the employees of Schwing Stetter India Private Limited. This year, 25+ employees with a diploma degree will be enrolled in this tailor-made academic program. On the flip side, as a part of the agreement, VIT faculty will visit Schwing Stetter India’s Global Manufacturing Hub (GmH), located in Cheyyar, to conduct classes. It creates a truly win-win environment. We need more such initiatives from academia to achieve India’s manufacturing dreams. We dedicate this special issue to the prestigious alumni of VIT. Do let us know your thoughts.