CII Launches 'Recipe of Excellence' to Boost India's Manufacturing and Create Jobs
The Confederation of Indian Industry (CII) has launched the 'CII Recipe of Excellence', an online tool to help companies benchmark competitiveness and bridge performance gaps. This initiative is part of CII's efforts to boost manufacturing and create jobs, with a focus on 26 'champion' industries identified for their global potential.
CII has pinpointed 26 industries with high commercial and strategic attractiveness, such as aircraft components, auto-electricals, and pharmaceuticals, which have the potential to become number 1 or 2 globally in the next decade. These champions can significantly contribute to job creation in India.
CII is working with various government stakeholders to support and monitor interventions at the overall manufacturing level, sector level, and industry level. The manufacturing sector needs to grow by at least 12.7% year on year to achieve this. The 'Make in India' campaign aims to increase manufacturing's contribution to GDP from 16% to 25% by 2025. India, currently the 9th fastest-growing nation with a GDP growth rate of 7.4% in 2015, is well-positioned to capitalize on this opportunity.
CII's 'CII Recipe of Excellence' is a strategic move to enhance India's manufacturing competitiveness and create jobs. By focusing on 26 champion industries and collaborating with government stakeholders, CII aims to boost the manufacturing sector's growth and contribute significantly to India's economic development.
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