International Journal of Marketing & Financial Management

International Journal of Marketing & Financial Management

Print ISSN : 2349 –2546

Online ISSN : 2348 –3954

Frequency : Monthly

Current Issue : Volume 3 , Issue 2
2015

STRATEGIES TO INDIA’S ENGINEERING SECTOR: MARKET OVERVIEW AND FUTURE OUTLOOK

Dr. Vijay Kumar Paswan

“National Fellow “ Rajiv Gandhi National Fellowship (2009-11) Asst.Professor in Economics, R.C.S.College,Manjhaul,Begusarai  India

DOI : Page No : 13-21

Published Online : 2015-02-28

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Abstract

The Present Study Provides an In depth reflections on the emerging market over view and the future outlook for India’s strategies to Engineering Sector in the light of Prime Minister Narendra Modi’s vision to transform Indian Manufacturing sector towards a policy orientation to “make in India”. The Paper is organise into three section. Section I presents the introductory part of the study, while section II examines some of the emerging issues that India’s Engineering sector needs to be promoted as a strategies for innovational research and development and increasing inflow of FDI in manufacturing factor ability, capital and power at low cost, a suitable policies for raw material reforms in skill development and above all introduction of full GST for implementations. Section III sheds some lights on the opportunities and challenges relating to the strategies for promoting specific engineering industries in the light of defense sector export promotion market diversification and sale promotion, upgradation of infrastrucher to SSU’s and LSU’s in export activities, strengthening the brand image of engineering product, international market strategic and so on. The paper puts emphasis that to realize this end, more concerted efforts needs to be strengthen in and reinforce. International marketing strategy. In view of India’s current low share of world engineering exports and considerable scope for improvement in its competitiveness, the key imperatives include (i) enhancing the alignment and effectiveness of trade drivers, (ii) boosting the competitiveness of the Indian engineering industry and facilitating upward movement along the value chain, (iii) and strengthening enablers for growth by clearing infrastructural and procedural bottlenecks.

Key words: Enablers, Make In India, GST, Brand Image