India has been recognised as the world’s fastest-growing economies in the world (More than China). However, India’s GDP has slowly seen a decline in the manufacturing sector, in fact the highest amount of India’s GDP (nearly 50%) is taken over by the service industry.
Even then, why is it that India is still struggling with poverty, diminishing rupee value and unemployment? The answer is: the diminishing role of manufacturing in the country.
Did you know that China is responsible for the world’s highest exports and that around a billion dollars in Foreign Direct Investment is being invested in China each week? Because China improved its manufacturing in the country drastically. China’s GDP used to be $191 Billion in the year 1980 and in nearly 2 decades, it has reached a whopping number of $13 Trillion dollars. China is a self-sufficient
country and is making sure that the world too becomes China-sufficient. They have increased their manufacturing, increased jobs, the wages of workers followed by their increase in the standard of living and most importantly, eradicating poverty.
Thanks to this remarkable economic growth, China no longer belongs to the group of low-income developing countries in the world and, since the end of the 1970s, some 400 million people have been lifted out of poverty.
In most of the fast-developing Asian countries such as Thailand, Indonesia, Malaysia, Taiwan, Philippines, Korea and China, manufacturing has contributed 30 to 50 per cent of GDP, and thus have helped in eradicating poverty. In contrast, the Indian manufacturing sector’s contribution to GDP has moved from 16% to 18.32 % in the last 10 years.
However, today that is not the case. India needs to believe in Make in India. Did you know nearly all Copper Beryllium products in the country (especially non sparking tools) are being imported in the country, even though it has been proved to be harmful to the people who use them?
Grey Safety Tools Pvt. Ltd. has come with a way to solve the above-said problems. GREY has developed an alloy i.e. Copper Titanium, which is freely available in India, and is manufactured in India, is safe to use and will obviously, create jobs, and increase India’s GDP.
This is GREY’s way of achieving self-sufficiency in at least the Non-Sparking Tools industry. India will never have to rely on other nations and imports to sate their demand for Non-sparking tools in the country.
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