In the next 10 years, India will need to create 10-15 million jobs annually to meet India’s rising population. Manufacturing is of particular importance to India, as the sector is a doorway to economic development. As an example, the Indian auto market is the 6th largest automotive industry in the world and is estimated to create direct employment for over two million people over the next few years. While this is positive, India’s manufacturing sector is under performing significantly compared to other competing economies.
The share of India’s manufacturing sector is roughly 15 % of its GDP and has been declining over the past several years. When compared to Thailand (36 percent), China (30 percent), and Taiwan (30 percent), it is clear that India could draw more investment through adopting business friendly policies that would ease construction of plants and facilities.
Please contact Jasjit Singh for more information.
Sandip Samaddar is Head of Policy & Strategic Engagements for the USIBC GLP India team. In this role, he assists companies in understanding government policies and cross sectoral issues impacting their business. He works on strategic engagements and thought leadership projects, as well as engaging with the Government of India and state-level governments to advise various ministries on impediments to trade and investment.
Prior to USIBC GPL, Samaddar was Director (Americas) and head of the US/Canada, Latin America and Caribbean & Israel Division at the Federation of Indian Chambers of Commerce and Industry (FICCI), where he focused on leveraging FICCI’s overall presence in North and Latin America. He has previously worked as an independent trade consultant and entrepreneur, as well as a trade advisor with the German Technical Cooperation (GIZ) Agency to complete a specialized project – the Indo-German Export Project (IGEP).
Please contact Sandip Samaddar for more information.