| |APRIL 20219The pandemic, unfortunate as it is, presented the Indian manufacturing realm an opportunity to optimize its potential and offer futuristic products to rise globallythe guidelines laid by the Central Government. When we have a One India and One trade policy, things will work effectively and efficiently. From what we have observed pre and during COVID-19, the Indian Government has done rela-tively well in allowing the free-market en-terprise to help water find its own level post-pandemic, with strategic nudges now and then to keep things moving in the right di-rection. It is up to the manufacturing execu-tives to make the best of this unfortunate crisis and rather use it as an opportunity to excel in the global com-petition. We have everything we need including a talent pool and what the previous manufacturing powerhouse, China, lacks - a young labour force. Opportunity to expand internationally Recently, we have observed a strong Swadeshi sentiment that the bulk of the demographic is displaying; and the time may be ripe for Indian manufacturers and brands to proudly wear the `Make In India' tag on their sleeve. However, it must be noted that at the same time ­ it is in-cumbent upon the Indian manufacturers to upgrade their products, processes, and infrastructure to live up to the expectations of the digital-savvy consumers. Not only is it economic and profitable domestically, but it is a huge opportunity for Indian manufacturers to expand internationally with global companies looking for alterna-tives to minimize their dependency on China. If you take an example of our industry i.e. the comfort and bedding industry, it has seen a shift towards the or-ganized segment right from demonetization to the imple-mentation of GST. Now with the COVID-19 shock, this shift has only been accelerated as the unorganized players have found it hard to keep up their supply chains. Consumer Durables is one of the key sectors that can help realize the Atmanirbhar goals of India. On the de-mand and consumer behaviour front, there has been an in-creased emphasis on the `trust' aspect which a brand pro-vides. Additionally, consumers are now more mindful and aware than ever before regarding the `health & wellness' offering of any product. This is where the comfort and bedding industry has seen a huge boost in the demand for quality products. Players in the manufacturing segment must anticipate and prepare for contingencies and step up the offerings with the most innovative product line com-bined with state-of-the-art technology. Also, e-commerce and omnichannel retail have played a major role in the expansion and establishment of the in-dustry. Brands such as Centuary have invested in enhanc-ing their digital footprint, and also bring health-related innovative value additions to the product mix to connect better with the consumers. In a nutshell, the pandemic, unfortunate as it is, pre-sented the Indian manufacturing realm an opportunity to optimize its potential and offer futuristic products to rise globally. Now it is up to us how we convert the challenge into an opportunity.
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