Innovation, sustainability key to growth

Hyderabad, June 27 (UNI) Innovation and sustainability were the key factors that contributed to the growth of manufacturing sector in India, Dr Reddy's Laboratories Limited Vice-Chairman G V Prasad said today.

Inaugurating a conference on ''MAN'EXE-07-Vision for Manufacturing - The Next Wave in Hyderabad'', organised by the Confederation of Indian Industry (CII) here, he said the Indian industry had reacted remarkably well to globalisation and it provided huge opportunities to grow, thrive and sustain in the global markets.

India Pistons Limited Director Dr R Mahadevan said the manufacturing was the central to robust growth of the economy.

To improve our competitive position, we should pursue manufacturing excellence, he added.

CII Andhra Pradesh Chairman Pradeep Dhobale said the manufacturing sector plays a significant role in the GDP of the country.

India's manufacturing sector had showed an impressive performance with a record growth of 14.1 per cent in March 2007 compared to a growth of 10.1 per cent in the corresponding period last year, he added.

UNI