BENGALURU: Initiatives such as Production-linked incentives (PLI), semiconductor ecosystem development and tax reforms have spurred the growth of the manufacturing sector in the country.
The next decade presents an opportunity for the country to lead sustainable manufacturing by driving the energy transition and bolstering technology exports, said N Venu, MD & CEO - India and South Asia, Hitachi Energy.
Speaking at Invest Karnataka 2025 here about 'Made in India for the World', he said Karnataka is leading from the front, and it is the ideal investment destination.
The company has committed Rs 1,000 crore investments in Karnataka and it will invest over the next four to five years, with a focus on localisation and talent development.
"We are planning to expand our factory in Mysuru, and we have been expanding our R&D centre," Venu said. He added that the company is investing in Karnataka not only for energy transition in the State but also for powering the global energy transition.
Guruprasad Mudlapur, President & Managing Director, Bosch Group in India, Bosch Limited, stressed the need to develop strong infrastructure manufacturing that is very critical in terms of logistics. He said, "Over the years, the government has put in a lot of measures to strengthen the logistics and infrastructure base. We have seen steady progress in our highways and infrastructure," he added.
Mudlapur added that the government has done a lot in the last one decade, and as an industry, we need to do more. He stressed on strengthening industrial ecosystems, advancing tech and focusing on cleantech and sustainability, as these are key for staying ahead.
Sudeep Santram Dalvi, senior VP, director and chief communication officer, of Toyota Kirloskar Motor said around 7 to 8% of the total GDP is being contributed by the automotive sector. "If you look at the EV penetration today, we are just less than 5%," he said.
At another session on the future of skilling, experts spoke about the importance of AI. Avinash Avula, President of Applied Materials India & VP Semiconductor Products Group Asia, pointed out that with Artificial Intelligence, the human element diminishes, but it is still the biggest value addition.