Trade in consumer goods, which is rapidly growing around the world, has the potential to garner about 8 trillion dollars for the Low-cost manufacturing countries like China have the potential to garner global trade in consumer goods, which is growing rapidly across the world, to the level of $ 8 trillion (Rs 496 lakh crore) annually, Hyderabad Metro Rail managing director NVS Reddy has said.
Delivering a special lecture on ‘Lean management for productivity enhancement’, organised by the Bharat Heavy Electricals Limited here on Wednesday, he said, “India has achieved success in the information technology sector. This can be replicated in the manufacturing sector by adopting better work culture and management practices. The major share of this manufacturing arena is globally controlled by China. India has to improve on this front which can create six to nine crore additional jobs and contribute 25 per cent of the GDP,” he added.
Explaining about lean management techniques, he said that it primarily concentrates on elimination of wastages, optimal utilisation of resources and improvement of production processes to add value to the final product.
“In lean management, the emphasis is on quality, value addition and better customer satisfaction. About 85 percent of HMR work is based on these techniques. That is, we use optimal engineering solutions, better construction methods by converting 85 per cent of construction into pre-casting mode. The design of Hyderabad Metro stations as “cantilever stations” is an engineering marvel and a fine example of this model,” he pointed out.