The Indian market for turnkey solution providers for industrial plants is showing a phenomenal growth path. Outsourcing is gaining popularity in modern construction projects since it embraces turnkey solutions since they are cost effective, efficient and since they provide the overall integration. There are several factors driving this growth. First, the government of India due to its policies of industrialization and infrastructure development is a key driver. Make in India and Atmanirbhar Bharat are the two major campaigns that are promoting manufacturing and industrial investments in India for domestic as well as international investors. Such policies provide conditions suitable for turnkey solutions suppliers to exist as companies aim to set up new plants rapidly and effectively.
Also, one can identify the growth of FDI in India’s manufacturing sector as one of the trends. Many global players are venturing into the Indian market for products and services due to the huge customer base, investment friendly policies, and talented workforce. These companies are especially interested in turnkey solutions because this way the management of the project and the issues which arise when creating new facilities in a foreign country are simplified. Technological developments are also on the forefront of this process. The integration of Industry 4.0 technologies including the Internet of Things (IoT), artificial intelligence (AI), and big data analytics in industrial plants increases the efficiency and productivity of the plants. Since such technologies are used in turnkey solutions, solutions providers with these technologies can provide more sophisticated and competitive solutions for market development.
In the current issue, we introduce you to the top companies in this segment. In this issue, Industry Outlook has identified the select few companies that have done particularly well in this industry with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner. We welcome your feedbacks and suggestion that you may have concerning this special issue.
