Representative image of the manufacturing industry in India.
Credit: iStock Photo
A significant opportunity exists to strengthen global manufacturing in India, according to President and CEO of global transportation giant FedEx Raj Subramaniam.
Addressing a session at the B20 Summit organised by CII, Subramaniam on Friday said about the opportunity for India to reduce non-tariff barriers, and make it streamlined and easy so that the goods can flow across borders as smoothly as possible.
"India represents about 2.8 per cent of global manufacturing. Who here will doubt that we can double that, triple that, what is the limit," he said, adding, "There is a significant opportunity to increase the percentage of global manufacturing in India and I think this is a moment of opportunity here".
The FedEx CEO observed that there lies "a significant opportunity while we double or triple manufacturing there is an opportunity to reduce the cost of logistics as a percentage of GDP in India, maybe even halve it'.
He praised the PM Gati Shakti - a National Master plan for multi-modal connectivity and said he was "very optimistic, very bullish on where India is and where India is going".
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