India 2nd in manufacturing

A study conducted by Deloitte and the US Council on Competitiveness has revealed that India is ranked second behind China in manufacturing competitiveness and will only narrow the gap over the next few years.

The Global Manufacturing Competitiveness Index , based on the views of more than 400 senior manufacturing executives worldwide, has rated the overall manufacturing competitiveness of 26 countries.

More surprising (than China’s rise to the top) is that India is now positioned at number two and expected to gain an even stronger foothold over the next five years. “India’s rich talent pool of scientists, researchers , and engineers as well as its large, well-educated Englishspeaking workforce and democratic regime make it an attractive destination for manufacturers,” the study said.

Executives surveyed said that research and development capabilities paired with engineering , software, and technology integration abilities were essential ingredients for manufacturing enterprises. 
While China, India and South Korea, the three most manufacturing competitive economies would retain their position, Brazil is projected to replace US from the fourth slot. The US, where concerns of losing competitiveness are already causing some concern, is expected to slip to the fifth slot.

According to the senior manufacturing leaders who participated in the study, the most important drivers of global manufacturing competitiveness are the classic factors of production labour, materials and energy.


source:  http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/India-ranks-second-in-manufacturing-competitiveness-Study/articleshow/7033483.cms