With a ready available manpower, affordable training costs, and a skilled/flexible workforce, India ranks high as an attractive destination.
Pune, India : Tech based global talent search firm Catenon has announced the launch of its manufacturing report titled ‘Manufacturing in India: Insights into Human Capital and Locations 2020’. Aimed at providing critical insights to help decision makers set up or expand in India, the report provides an industry wise deep dive into 11 varied sectors & their sub-sectors.
The following areas have been identified and analysed in the report from a sectoral perspective-
- Location Intelligence & Developmental Parameters
- Workforce Insights & Compensation Intelligence
- Additional Industry Insights
Some of the key takeaways from the report include-
- On an average, 51% of HR Heads across all 11 sectors agree that White collar workforce in manufacturing is ‘easily available’ or ‘very easily available’
- Upto 9% of Total Manpower Cost dedicated to Training across 11 industries, as reported by HR Heads
- 83% of India’s manufacturing workforce is willing to migrate to other locations for professional opportunities
- Safety, Children’s Education and Environmental Conditions are top 3 factors affecting migration decisions of manufacturing professionals
- On an average, 38% of manufacturing professionals across 11 sectors chose ‘Safety’ as the most important factor when considering migration for work
Recognising India’s growth journey that lies ahead, Catenon India worked to identify and capture the diverse aspects of the manufacturing ecosystem and its future in India. The report looks at more than 10 distinct industries namely Automotive; Building Materials; Chemicals; Electrical & Electronics; Engineering & Capital Goods; Food & Agro; Life Sciences; Metals & Mining; Oil & Gas; Paper & Packaging and Textiles. Consisting of sector and subsector specific intelligence, it presents the latest data collected over the last 3 months, through primary research with 1600 professionals & 200+ HR Heads, and secondary research with more than 2 million data points.
“Geopolitical issues have emerged as an important consideration for global companies looking to set up or expand business. A democratic and demographically gifted India offers an alternative to China, as the world gains confidence in our country’s economic resilience, governance, and geo-political contributions. The series of initiatives and policy reforms undertaken by the Indian government to establish India as a manufacturing hub for the world has been a great catalyst in the right direction.Through our report, we aim to provide decision makers with critical information related to selection of locations for setting up a manufacturing facility or expanding business”, commented Gaurav Chattur, Managing Director of Catenon Asia.
The report highlights that there is a very big opportunity for global players to secure a competitive advantage in India, which uniquely offers both a large and growing demand, relatively low-cost workers with advanced technical skills and a manufacturing base for the globe, beyond just APAC. With many marquee companies already running large manufacturing operations in India, the country is on the verge of becoming a manufacturing powerhouse within the next few years.