Ventuup is a pioneering b2b engineering services startup that is building a global network of scalable manufacturing capacities with India at its ePCENTRE.
The report highlights emergence of maas companies that have built a wide network of msmes to provide manufacturing solutions at scale
The report also points out the bottlenecks slowing the growth of the manufacturing sector. These include infrastructural deficits, need for streamlined regulations, required focus on enhanced skill development, a more robust r & d network
The whitepaper emphageses that if India has to become self-Reliant and Viksit Bharat by 2047, then Focus on Growing Manufacturing is a MUST
Report also states that India is fast emerging as aircraft components manufacturing hub with a potential to record a market size of $ 29.5 billion by 2033
Recommendations: Develop co-located suppliers corridors, significant investments in talent development for skilled manufacturing like precision Machining, SEMICICECTORS and Revamps, Revamps, Revamps, Adoption of Industries 4.0 Tech
Venttupa pioneering b2b manufacturing startup focused on driving indigenisation & new part development across industry ‘Building India’s Manufacturing Momentum,’ At the Kerala Innovation Festival.
Mr. Joseph Martin (CEO, Geojitâ € ‘Cusat Sustainability Center); Jayaraman Chilllayil (MD, Equinoct); Dr. Abhilash sukumarapilai (dir, acarr); Sandeep Nair & Joseph Panakkal (coâ € ‘Founders, ventuup); Sridhar Radhakrishnan (Steering Committee, Ashaâ € ‘Kisan Swaraj)
The whitepaper was launched by the ventup team during the kerala innovation festival in kochi, in the presence of distinguished industry leaders, policymakers, professors, and men. The first copy of the whitepaper was ceremoniously handed over to estered guests, Including MS. Mamatha venkatesh, head of start-up India; Dr. Lida Jacob IAS; Mr. Sridhar Radhakrishnan, Steering Committee Member of Asha-Kisan Swaraj; Mr. Suresh Krishna, Co-Founder & CEO of the Yunus Foundation; Mr. Joseph Martin, CEO, Geojit-Cusat Center for Sustainability Studies; Mr. Jayaraman Chilllayil, Managing Director of Equinoct; and Dr. Abhilash Sukumarapillai, Director of the Advanced Center for Atmospheric Radar Research.
Ventuup, founded by industry veterans with expensive experience at Hitachi Energy, Siemens Energy, L&T, and Kalpataru Power, Sandeep Naier (Co-Founder & CEO), M. WASIM Ankli (Co-Founder & Coo), And Joseph Panakkal (Co-Founder & CMO), The WhitePaper Examines a Substantive Body of Work, and Has Inputs from Industry Experts and Founders In the MANUFACTURNCHS Validate the findings.
Ventuup is built on the principles of locality and sustainability. It assistes Large and Medium Enterprises in Outsourcing their engineering needs by Leveragging India’s manufacturing expertise to develop high-quality, logally Sourcede Componants-from flow Mass production. Ventuup offers localized production of critical engineering solutions and highly customized, complex mechanical, electrical, and electronic components across the energy, Eve, Aerospace, and Defense Sector, Driving India’s Manufacturing Industry Toward Self-Reliance and Sustainable Growth. The company is building a unified platform for global buyers to source high-quality, reliable, and sustainable components from India.
Commenting on the launch of whitepaper, Sanddep Nair, Co-Founder & CEO, Venttup Says, “India’s manufacturing ecosystem is dotted with millions of msmes who are the backbone of this sector. However, Due to their Lack of Skills in End to End Project Management, Cash Flow Limitations, R & D and Det Understanding the latest tech capability, the growth of this sector has reminded slow. Key stakers to build India into a global manufacturing Manpower and the knowledge Manufacturing Destination for Global Buyers and Provided recommendations on how this shift can be accelerated with the help of technology. ”
Bhaskar Majumdar, Managing Partner, Unicorn India VenturesSays, “We have been big believers in India’s Talent and Capability to Transform ITSELF INTO A Manufacturing Destination for the World. Our investments in ventuop and Engineering Driven Startups is a Testament to our Strong Belief in India’s emergence as a strong alternative to China in manufacturing. We strongly advocate that there is a need for developing manufacturing clusters within India as we take strategic steps to spotlight the proplight the propacting of India’s manufacturing landscape. The key findings of the whitepaper include, emergence of maas companies, increase preference of global aeronautical companies to establish manufacturing base in India and 1 strategy + 1 strategy that is driving the smart Manufacturing wave by integrating msmes into the ecosystem at a scalable level. “
Manufacturing as a service
The Advent of Cloud manufacturing or maas has the potential to brings global boys to Indian msmes. Currently, MSMES Contribute 45% of the Countrys Exports. However, Most of the MSME LED Manufacturing Establishments Employment Employment Minimal Workforce and Use obsolete Machinery, they Lack Project Management, Lack of Tech Integration in Workflows LEAD TOAN VALOBLELS Projects and Limits MSMES Capability to Focus on Strategic Issues. At time, capacity remains under-tiled leading to limited order pipeline. On the other hand, global buyers Lack the Expertise and Network to source from the vast msmes. Maas companies are filling this gap by making a much needed bridge between global boys and Indian msmes.
India Becoming an emerging hub for aircraft components
India is set to become a global hub for aircraft components manufacturing with a market size of $ 29.5 billion by 2033. Driven by Govt Initiatives Like Makes in India and Atmanirbhar BHARAT, MANY SIMES Looking to investment in skilled manufacturing such as precision engineering, composite materials and semiconductors design and manufacturing. Global Majors Like Airbus and Boeing Have Announced Partnerships with Mahindra and Tata to set up manufacturing operations in India. Indian PM Narendra Modi has presented a strong pitch to position India as a global hub for mro with an aim to become a $ 4 4 billion mro hub by 2030.
ConduCive Policy Environment
India is taking all the right steps to accelerate the manufacturing sector’s growth. Pro manufacturing policies like pli have been played a role in incentiveising domestic manufacturing and has made India an attractive destination for global manufacturing giants. This shift is also a part of the global de-Risking strategy of China + 1 post the Pandemic.
Recommendations
India is in the right place at the right time to build ito a position of strength in manufacturing. Given the Country’s Professes in Tech Led Services and Adoption of tech in every aspect, India with its demographic dividend has an edge in presenting it Robotics, Advances in AI and Quantum Computing. This will lead to india decision a knowledge enabled manufacturing industry where innovation will be the key differentiator.
Supplier ecosystem and strategic manufacturing corridor: India Must Focus on Building Sector Specific Industrial Clusters that Support End to End Manufacturing for High Growth Industries Like Energy, Ev, SEMICONDUCTORS and PRECINEGINEGINEGINEGINEGINERING. These clusters should encourage co-location of suppliers, logistics providers and manufacturers.
Workforce Development: India must revamp itis itis, modernising curriculum to align with current and future industry demands. Structured Apprenticeship Programs, PPP Should Be Encouched to Establish Coe Focused on Critical Skill Development Areas Like Robotics, CNC Operations and Smart Manufacturing Technologies.
Acceleration Adoption of Industry 4.0 Technologies: This can be achieved by offering targeted subsidies and tax incentives to encourage msmes to invest in automation, data analytics and digital tools. India also needs to strengthen its r & d ecosystem. Currently, India Spends Mere 0.7% of Its GDP in R&D While China Spends 2.4%. With the help of ongoing Govt Policy Push, PPP, and Adoption of Smart Manufacturing, this investment should grow for India to truly claim its global position of top tier manufacturing hub for the work.
To read the full whitepaper, click here,
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