Eight in 10 manufacturing professionals are willing to migrate to other locations for professional opportunities, finds a report by global talent search and consulting firm Catenon.
The survey, titled ‘Manufacturing in India: Insights into Human Capital and Locations 2020’, states that India ranks high as an attractive destination for doing business, with its lenient policy framework, conducive industrial ecosystem and a ready available workforce.
The report is aimed at providing critical insights to help decision makers set up or expand in India, and provides an industry-wise deep dive into 11 varied sectors and their sub-sectors. Findings are from large manufacturing industries including automotive, building materials, chemicals, electrical and electronics, engineering and capital goods, food and agriculture, life sciences, metals and mining, oil and gas, paper and packaging, and textile.
“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,” Gaurav Chattur, managing director of Catenon Asia, told ET.
Talking about Workforce Migration, the survey finds that 83% of manufacturing professionals are willing to migrate to other locations for work opportunities. Other factors that would make them consider migrating include safety (38%), children’s education (31%), air/water pollution (19%), and cost of living (17%).
Preferred locations for migration include Pune (17%), Bengaluru (16%), Mumbai (15%), Delhi (13%), Hyderabad (5%), and Chennai (4%).
The report highlights that there is a very big opportunity for global players to secure a competitive advantage in India, which 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,” said Chattur.
The data is based on primary research with 1,600 professionals and 200+ HR heads, and secondary research with more than 2 million data points.
Preview and buy the report here- https://catenon.in/india-manufacturing-report/
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