Competitiveness is defined as the ability to add value better than the others in the globalised economic environment. In other words, for the Indian AC&R industry to succeed, it should be able to add value better than its competitors across the globe. Despite the poor infrastructure, there is growing sentiment that India can do it.
We have made rapid strides in manufacturing and service sectors, and international community is admiring many of our Indian companies. I indeed believe that India can become the global economic powerhouse, and can rival China as the world’s factory. I believe that India can become a major exporter of the AC&R equipment.
A recent report by MaKen-Singh & Company comprehensively addresses the status of the global and local trends, and an action plan for the industry to achieve rapid growth. It also outlines what the Government can do to promote growth of this vital industry, so that it can fulfill its potential to preserve food, increase productivity and contribute to the quality of life.
But, the challenges are many. Compared to the stature our industry has in most countries including the developing Asian countries, the Indian AC&R industry still has a long, long way to go. To become a major exporter, we need, primarily, scale of manufacture. To acquire scale, we need a large domestic market, which we need to build.
We have a long way to go in terms of customer education. The usage and application of products itself is questionable. We come across retailers using deep freezers for storing bottles as well as butter and many other products, which are not supposed to be stored in the freezers. The consumers do not use several innovative features that are available.
The country also lacks standards in terms of building codes such as ceiling heights. It is not only the Government, which will have to act, but also the builders, architects, consultants and industry players. By our working together, this industry can grow at least 3 to 5 times faster than it has grown in the past.
As per the author, Indian AC&R industry’s present standing globally in terms of competitiveness