Home Insights A Strategic Framework For Outcome-Driven Policy To Transform Manufacturing In India –...

A Strategic Framework For Outcome-Driven Policy To Transform Manufacturing In India – IMPRI Impact And Policy Research Institute

15
0

Session Report
Swetha Shanker Pydimarry

#Centre for the Study of Finance and Economics (CSFE) IMPRI Impact and Policy Research Institute, New Delhi, had organised Fundamentals of PUBLIC POLICY- Cohort 2.0, an online spring school program and a one month immersive online introductory certificate training course to simplify the complex field by thoroughly exploring the reasons, limitations, and various aspects of public policy

On the fourth day of the Fundamentals of Public Policy cohort 2, participants explored the complex relationship between fiscal affairs and global issues, gaining insights into critical topics such as global trade structures, industrial policies, and the outlook for manufacturing. Esteemed speakers, including Aashish Chandorkar and V Ramakrishnan, shared their expertise on the evolving global economic landscape, stressing the need for strategic policy measures to address multifaceted challenges.

Session Highlights

Mr. V Ramakrishnan led a profound exploration into the strategic transformation imperative within the manufacturing sector, emphasising the critical need for clear objectives, resource allocation, and a culture of innovation. Participants were enlightened on the challenges hindering factor productivity and the compelling necessity for a paradigm shift towards innovation-driven strategies to thrive in the global market.

Mr. Ramakrishnan’s discourse on the pivotal role of small and medium-sized enterprises (SMEs) in propelling manufacturing growth resonated deeply with attendees. His insights into enhancing entrepreneurship and fostering sectoral innovation provided valuable perspectives on leveraging SME contributions to bolster India’s manufacturing prowess. His global trends analysis underscored the significance of SMEs in GDP contribution, igniting discussions on tailored strategies to further enhance India’s manufacturing capabilities.

Moreover, Mr. Ramakrishnan articulated the formidable challenges confronting Micro, Small, and Medium Enterprises (MSMEs) in India, ranging from capital constraints to regulatory hurdles and productivity bottlenecks. Through strategic deliberations, participants collectively explored multifaceted solutions, including capacity-building initiatives, streamlined market access, and enhanced financial inclusivity to empower MSMEs. 

The session delved into the transformative potential of business model innovation and skill development in driving manufacturing growth. The speaker’s emphasis on integrating successful business models into policy frameworks underscored the need for holistic approaches to foster a culture of vocational training and social responsibility within the manufacturing ecosystem. The session’s discussions were centred on elevating public policy discourse to support SME manufacturing, emphasising the importance of data-driven decision-making and stakeholder collaboration. Mr.Ramakrishnan’s insights on successful interventions in other economies provided valuable benchmarks for potential applicability to India’s context, fostering a deeper understanding of strategic imperatives in driving manufacturing competitiveness. 

The session culminated with profound insights into port restructuring and managerial roles in India, underscoring the indispensable role of competent leadership and strategic planning in fueling economic growth. 

Participants reflected on the evolving landscape of managerial roles and the imperative for continuous adaptation to dynamic global market dynamics, laying the groundwork for informed decision-making and strategic interventions.

Conclusion

Mr.Ramakrishnan’s session offered a comprehensive roadmap for navigating the intricate challenges and opportunities within the manufacturing sector. His strategic insights, coupled with practical recommendations, provided participants with actionable frameworks to drive transformative change and enhance India’s manufacturing competitiveness. 

The speaker’s holistic approach to understanding the strategic imperatives of manufacturing growth went beyond surface-level insights. He delved deep into the intricacies of policy frameworks, market dynamics, and technological advancements, empowering participants to navigate the evolving landscape with confidence and foresight. By equipping them with actionable frameworks and practical tools, Mr. Ramakrishnan instilled a sense of agency and ownership, encouraging participants to take proactive steps towards sustainable economic prosperity. 

In essence, Mr. Ramakrishnan’s session transcended mere presentation, evolving into a transformative journey of collective discovery and empowerment. His unwavering commitment to fostering collaboration, leveraging global insights, and empowering participants with actionable strategies underscored his role as a catalyst for change in India’s manufacturing ecosystem. As participants departed, they carried with them not only newfound knowledge but also a renewed sense of purpose and determination to drive meaningful impact in the pursuit of manufacturing excellence and economic prosperity.

Read More:

Session on Effective Networking and Personal Development

Previous articleYoung Women Leaders In Public Policy Fellowship: S+Report
Next articleEvolving Global Trade Architecture And Return Of Industrial Policy – IMPRI Impact And Policy Research Institute
IMPRI, a startup research think tank, is a platform for pro-active, independent, non-partisan and policy-based research. It contributes to debates and deliberations for action-based solutions to a host of strategic issues. IMPRI is committed to democracy, mobilization and community building.

LEAVE A REPLY

Please enter your comment!
Please enter your name here