A better outlook
The business confidence in Indian industry has increased to 57.20 in the second quarter of 2016 from 54.10 in the first quarter of 2016, according to CII. India has been an attractive hub for foreign investments in the manufacturing sector. Several mobile phone, luxury and automobile brands, among others, have set up or are looking to establish their manufacturing bases in the country. With impetus on developing industrial corridors and smart cities, the Government of India aims to ensure holistic development of the nation.
Just to give an example, in the Management Interview in this issue, Kishore Jayaraman, President, Rolls-Royce India & South Asia, shares his company’s plans to hire about 1600 engineers in its various upcoming facilities. Also, with the current spend on procurement at around $40 m (2016), Rolls-Royce has set a target of procurement spend of around $200 m by 2020 and doubling the supplier base in 2017. Sounds interesting? Have a look at the feature.