| India
fast turning into a global engineering hub
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India
is well on the map for global companies looking
at making it their choice destination for sourcing
as well as manufacturing hub for engineering goods,
auto parts and textiles.
Merrill
Lynch estimates that India’s exports of
automobile components alone could increase to
$10 bln by 2010. The potential of the auto parts
sector is reflected in the performance of companies
like Sundaram Fasteners, Amtek Auto, Bharat Forge,
MICO and Motherson Sumi. Established quality systems
and experiencing in working with global OEMs (original
equipment manufacturers) are giving these companies
the required edge over global competition.
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In the case of engineering, global majors like Alfa
Laval, Atlas Copco and Cummins are considering development
of India as their manufacturing hub.
A
number of players in the textile sector are already
gearing up for expansion in business once the quota
system in the US, Europe and Canada is scrapped
at the end of this year. This is despite the doubts
over the scrapping of the Multi-Fiber Agreement
(MFA), using which the quotas are administered,
as the European Union has been actively campaigning
for retention of the existing system in a modified
fashion. But, the interest shown by global majors
like Wal Mart in Indian products is heartening indication
enough. |
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Our Say |
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| A
key reason for the emergence of India
as a manufacturing hub for several sectors
is the changed perception of the "Made
in India’ brand due to the rapid
emergence of India as an important player
in the high-profile IT industry. Indian
companies have also shifted their focus
to globalisation as the process of restructuring
has been completed by most companies
in key sectors.
Indian
companies are also gearing up their
management systems to operate successfully
in a global environment. Manufacturing
bases are being diversified and raw
materials sourced at cheaper rates with
strategic alliances being built for
boosting marketing efforts." |
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| Reliance
to harness India’s clinical research services
environment |
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Reliance
Clinical Research Services (RCRS) has taken on
the clinical research services market in the US,
Europe and Middle East. A part India's largest
private conglomerate Reliance Industries, RCRS
currently conducts studies in oncology, burn wounds,
cardiovascular, endocrinology, nephrology, gastroenterology,
infectious diseases and vaccines. The Company
will now look at conducting pre-clinical and clinical
(Phase I to Phase IV) studies for assisting and
managing pharmaceutical, biotechnology product
and medical device development.
RCRS
has to its advantage a strong knowledge base and
network in the medical domain, full service project
planning, conduct and management of trials throughout
India, in-house molecular diagnostic support and
in-house Phase I and pre-clinical toxicity ability.
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RCRS plans to leverage the India advantage along
with its value proposition to deliver clinical research
services to global pharmaceutical, biotechnology,
medical device and nutraceutical organizations
Group
chairman and managing director, Mr. Mukesh Ambani,
suggests that RCRS’s new initiative is in
keeping with the conglomerates changing role “from
a manufacturing organisation to a knowledge and
services driven enterprise”. |
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Driving
such an initiative are the rising costs
of clinical trials in the US and Europe.
As per consultants Rabo India Finance,
the cost of phase I/II/III trials in
India is just 50-60 per cent of that
in the US. Several pharma majors have
in fact used clinical trials' data from
India for US Federal Drug Authority's
New Drug Application submissions.
Also
many health care companies find it easier
to recruit qualified patients, without
a record of prior treatment in India.
Consequently undertaking clinical drug
trials and product development in India
could be up to 75 per cent faster.
More
recently, India has also created a favourable
environment for clinical trials by resolving
issues related to protection of intellectual
property.
India’s
broadly developed information technology
infrastructure further ensures speedy
conduct of studies and flow of information/data
from the sites to the sponsor's databases. |
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