Ad Here  
May
June
July
August
September
October
 
 
Pharma – overdose of copying Focus on quality of power - its only around 170-180V A C Muthiah – his munificent bequeaths to science Come elections, come advertisements... B H Kothari - a tribute Tax agriculture Shale gas and its shallow future Boy, can you beat these? Delhi is distant… Make standards certification mandatory... Paytm karo... Lalu’s envy, India’s pride A think tank for Chennai Align crops to agro climate endowments… A professional at the helm of IRDA... Making ‘my Amaravati’... When nations steal growth from one another… Don’t seem to feel the pulse… Maximising the micro pricing … CII projects higher growth… Remembering Indira Sivasailam... Discoms deserve better… More tributes to GR Odisha: spectacular win by Naveen Patnaik Of course, Gujarat is vibrant Delhi Chalo... Solar thermal shines… Lesson from Chandrababu Naidu Godspeed, Chief Minister JJ Colour-Chem’s colourful KRVS There was flood of milk. Reason: no milk commissioner! The why of tax incentives Towards speedy justice Breaththrough in malaria control Bihar – Nitish Kumar adopts the Lalu model PC’s preference for professionals TGS- The king storyteller An enemy’s enemy is a friend This scant respect for Law Editor's Says More heat than light How Air-India loses customs... IAS invades NDDB... Kinetic Karnataka Welcome focus on core competence Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Tihar, Puzhal not different from Parappana Agrahara Editor's Notes Moily’s bold thrust IPL type auction for VCs? Eternal support for capitalisation of PS banks Poor representation for Kerala and TN in Cabinet Polls and promises Bihar elections - the Rajaji formula worked Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Small units prefers to remain small... Delhi returns to BJP Tribute – UCAL Selvan… Whistle-Stop Tour of Raghuram Rajan ONGC at KG Basin No Maha Koottani in TN... London, London Narayan Protest masters... Strengthen the base... Noble nonagenarians... Gas is the way forward Padma Bhushan for A Ramakrishna Tatas moving out of urea production... GM Technology at last! He continues the focus on social amelioration Nuclear power at the nucleus The few handicaps... No mega rail project for Tamil Nadu Cement prices continue to rise… R Sridhar steps down as CEO of Shriram Capital Adharma of opposition politics S V Raju – a ‘good’ true liberal Preserving for the future Why land prices zoom in TN? Infrastructure funding – lessons learnt An informal presentation - analytical, forward locking... Limit foreign borrowings to hi-tech, export potential projects... Not just in-laws (and outlaws); they’ve renowned academics at the helm! Shaming of Tamils by Tamil farmers at Delhi Poor quality of university VCs Tribute Where is Rajaji? China invests in India Computation of GDP – conundrums continue Revive development banks... Online not in line with brick and mortar businesses... Fortune for Indian Airlines For whom the MIDS bell tolls? Welcome changes that testify to Jayalalithaa’s return to health Mersal magnified Rahman at CIC TN accounts for the largest recruits by the IT sector When TN politicians can emulate Kerala's Shanti and Sadhana through Music Fall in crude prices help in oil sector reform Intellectual of rare qualities Solar, solar everywhere … The Jan Dhan bonanza Put expensive assets created to use... Banning booze... CIPET hqrs to stay at Guindy – for the present? SoA @ 80 A friendly business group The rise and rise of KCP Why this malaise in medical education? Build close rapport with business leaders Plummeting profits of PSBs Silver Years of Madras Musings to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Kulandai was a giant Sweeter prospects for sugar Five star activism stalls development activity Liberal imports idling indigenous capacities Increasing non co-operation of state leaders The ‘Ayyo-yes’ is no more Fortune 500 review Cleaning Ganga – relocate tanneries and install electric crematoria S Ramanathan – a versatile musician, musicologist Waning interest in public discussions… Inflation: are we emulating Argentina and Brazil? Kudos to NDTV... Tribute – Manikam Ramaswami The sea- saw battle continues... When small is no larger beautiful.. Demise of a media baron... Building loyalty through the stomach Naidu’s return augurs well for Seemandhra Air Asia India will set new benchmarks for budget travel Shipping woes of Chennai companies Diamond jubilee of Egmore Samskrt School West Bengal: mindless malignancy Valli, they are more marginalised The balancing act Excel Generators provide the vital back-up When online building permits work…. Tatas moving out of urea production... Dr C Rangarajan returns to Chennai The brown list of Venkitaramanan Muffled voices for merit… IPL - no surprise this scam Gay abandon in pricing TIAM turns a full cycle TN-leverage strength of BHEL, NLC... The Ports’ Pasha expands into Tamil Nadu The Gulf aviation boom An inexplicable neglect Things happen by accident and not by design... The ‘Jayanthi Tax.’ For whom the bell tolls? Parliament in paralysis... Quality silica from Neyveli Medical costs hit the roof... Permanent secretariat for TN GIM Cutting the nose to spite the face More Shakthi to Das’ elbow Welcome thrust on trade in Modi’s foreign visits... Modi storms Silicon Valley A yen for wastage… GNS - 100: our first subscriber Tribute – M V Murugappan Tough task taking states together CRS, a jewel among managers, is no more. Sri Lanka votes for change Convulsions in The Hindu Rs.1600 crore paper board plant of TNPL Quality education through the PPP mode A glass full of corruption Delhi is distant Wise Presidents The rise and fall of Annamalai University Russi Mody – a tribute EVM is tamper-proof Recognition to role of NBFCs.... Modi and the lady Multi-faceted Venkat The star of Spencers is no more Airlines in India: cost and space A proud Madrasi Engineering seats go abegging Telangana in top gear… L&T- the specialty of special purpose vehicles Vibrant Gujarat WTO Meet: resolved to meet again When the President was rendered homeless… Funding the un-funded Haul over the coal F C Kohli - his concerns all embracing TELANGANA at last…BUT More Shakti to resource mobilisation... The Swadeshi Trump Adapt Vajpayee dinner diplomacy Like Hinduism: many paths to reach God... Wanted: a second airport for Chennai A welcome initiative by the judiciary CSR and CMI: promise of another Srinivasan Ramanujan... Readers' Mail The nuclear option Scientists urged to take up farmer-oriented research Where a state respects its litterateurs… New IT products of Ramco in the pipeline… A Grand Finale for SN’s MS centenary at the US… Streamlining mandatory third party cover Naidu will soon build a new Hyderabad Revving up the manufacturing sector Road development slows down TN – agglomerate land holdings without alienating ownership The power-full Hindujas A more liberated TN… Welcome GST Which side are you, Montek? Roaring Ro-Ro facility Alexa – Talking Wikipedia Robber barons everywhere Land reclamation from sea appears cheaper! L&T: focus on infrastructure and more infrastructure… Music happens …and of a popular trade leader A rich pool of talent not utilised…. PPP mode for upgrading Corporation Hospitals Sweet news for TN sugar mills MHC should not return to its old indisciplined ways When Ratan Tata visited SRM Secularism and anti-Hinduism Mu Sigma – is no more Another Indian music maestro at the UN EEC at the National Media Centre Fuel for thought No engine for this car He saved millions from starvation... Insurance companies bleeding, yet no decision on increasing FDI limit! Marketing expert Balagopal is no more Auto components surge… Return to king coal for urea... Contrarian cousins All eyes on Sankara Nethralaya Measuring roof tops in terms of KW/MW Reliance’s TV – 18 ready to launch Tamil News Channel A Grand Finale for SN’s MS centenary at the US… Should we change the official year?
 
Liberal imports idling indigenous capacities

Prime Minister Modi’s Make in India exhortation makes great sense. The country has capabilities to produce many of its requirements on its own. 

Unfortunately, policymakers do not spend the needed attention to ensure such capacities created are fully utilised. We see the spectacle of a large number of industrial units – steel, power equipment, cement, automobiles... performing to a fraction of their capacities. This depresses interest in investments for creating new capacity.  We have a grim situation.

BHEL recorded huge expansion of capacity to provide 20,000 MW of power equipment per annum. The Tiruchi unit and its satellites had a record production, valued around Rs 20,000 crore, during 2012-13. Other renowned companies like Mitsubishi, Toshiba and Alstom invested on creating capacity for power equipment manufacture that would enable the country to meet demand for such equipment in full.

Yet one witnesses a curious spectacle of China, Korea, Japan and other countries dumping their products into India at lower prices. In recent times we also witness Chinese companies successfully contesting contracts awarded to BHEL in the Madras High Court leading to the cancellation of orders placed on BHEL.

A similar spectacle is witnessed in regard to steel. The industry riding on the post 2000 boom made handsome investments. A capacity for around 115 million tonnes has been created; but simultaneously the clamour for imports has also increased. One witnesses again the sad spectacles of capacity created at great expense remaining under-utilised and exports on the increase.

Consistent with WTO commitments there is need for a mechanism to ensure indigenous industry is provided a measure of encouragement and even protection to perform to capacity. This in due course will lead to investments to expand capacity and hence support the Prime Minister’s Make in India slogan meaningful.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com