Kris Gopalakrishnan: India will remain a low-cost manufacturing destination for years to come, says Kris Gopalakrishnan of Infosys. | So Good News
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“India will continue to be a low-cost economy for the next 10 to 20 years, the countries that are developing above us are high-income countries, and it will be cheaper to develop, design, manufacture and produce many products in India. In the coming years,” Gopalakrishnan said at the graduation ceremony.
He added that it would take three decades for India to reach where China is today by becoming a middle-income country with a per capita income of at least $6,000-$7,000.
India has stepped up measures to attract foreign companies to manufacture here despite a massive shift in manufacturing from China, considered a factory floor, with the coronavirus outbreak. New Delhi has also implemented programs to boost domestic production and increase global exports, including an incentive program linked to popular manufacturing.
Labor arbitration, especially in service industries, has contributed greatly to the country’s progress.
Besides, India is also one of the largest markets because of its 1.4 billion consumers, which attracts all the world’s biggest companies, the veteran official said.
In the next three decades, India will become the second or third largest economy in the world with a GDP of $10-$15 trillion and the country will be the best place to live in the next 30 years. said Gopalakrishnan.
However, the country overcomes the problems and justice, Action must be taken to ensure fairness and justice, Gopalakrishnan said, adding that the world is facing similar problems and India can be one of the leaders in solving those problems.
“We have the knowledge, technology and resources. We need to work hard to create a better India and a better world,” he said.
(with PTI entries)
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