Mumbai: As manufacturers the world over are rethinking their supply chains in the wake of the Covid-19 pandemic, it is a great opportunity for India to gain global leadership in supplying to several industries while also becoming self-sufficient said Bharat Forge Chairman Baba Kalyani.

Countries are looking for a “China-plus-one” sourcing strategy as nobody can afford to be over-dependent on one supplier, Kalyani said while speaking at the ET Global Townhall. India benefits from a large talent pool and a good understanding of technology, which can be leveraged to become a global leader in at least two-three niche industries.

India can gain leadership in industries like pharmaceuticals, automotive and ancillaries, electronics, consumer goods, as well as in making sub-systems for several industries, like compressors for air conditioners.

“I believe we can make a list of at least 100 products where we can gain world dominance in terms of our manufacturing capabilities,” the septuagenarian said.

Technology can also be deployed to gain leadership in industries like footwear and textiles where India has a lot of skilled artisans. The artisans do not have the technological knowhow to convert a design into a product in a short time, something which China has mastered. It wouldn’t take India more than three months to learn this, if the country put its mind to it, Kalyani said.

For Indian manufacturers, it would be impossible to stop sourcing from China immediately, given how complex supply chains tend to be. However, that doesn’t mean that we have to be completely dependent on the country either. “There is a big difference in having China in the supply chain and being dependent on the country,” Kalyani said.

The government is doing an “tremendous job” in attracting global manufacturers to India, especially in electronics manufacturing, according to Kalyani. So far, India only assembled electronic goods like televisions and mobile phones from components imported from elsewhere, but that soon change, he said.

Global manufacturers also realise India’s importance as a large consumer itself. That was one of the reasons manufacturers headed to China, Kalyani explained, but the country is now nearing saturation in terms of domestic consumption and doing business in the country is also getting problematic politically.

“Go ahead and serve the global supply chain if you have the technology, knowledge about your product and skilled people,” Kalyani told Indian manufacturers aspiring to become global.