The German Engineering Federation (VDMA) recently organised the Indo German Business Forum in Chennai in association with ASA & Associates LLP, BDB India Pvt. Ltd., and EAC International Consulting.
Mr. Rajesh Nath, Managing Director, VDMA India, compered the entire show with an overview on VDMA, and said German Engineering had been associated with India ever since 1956 – 1959 when Jawaharlal Nehru was the then Prime Minister of India and visited the Federal Republic of Germany to initiate a strong bond and relationship among Indo-German Technology associations.
Mr. Subrata S. Bose, Executive Partner, ASA & Associates LLP, presented a detailed report on the GST Favouring Manufacturing in India, production cost, simplified supply chain, transfer of goods, single point assessment regime, etc.
Mr. N. Ashok Kumar, Senior Manager - Business Development, BDB India Pvt. Ltd., presented his views on the Indian Manufacturing Industry, and observed that manufacturing is the growth engine of India setting a new trend and the growth of 17% registered in 2017 is expected to touch 25% by 2020.
Mr. Unmesh Lohite, Managing Consultant, EAC International Consulting, presented a picture on India sourcing – positioning & trends, and said the German Manufacturing Companies Index touching a new high on global manufacturing competitiveness backed by labour, supply base, developing infrastructure, sourcing opportunity, etc. A NASSCOM study states that India will reach the 5th place by 2020 as the world’s growing sourcing country.
The panel discussion was chaired by Mr. Anand Sundaresan, Vice Chairman and MD, Schwing Stetter (India) Pvt. Ltd., and Mr. Satish Arumugam, Director Finance, R STAHL Pvt. Ltd., on the topic of “Challenges in Manufacturing Industry in India”.
VDMA is one of the largest industrial associations in Europe covering areas like process chain, mechanical engineering, tools & components, production, manufacturing, assembling, drive-train, automation engineering, information technology, software and product-related services.