The emphasis on innovation and technology in our companies has resulted in a few of them establishing global benchmarks in product design and development, manufacturing practices and human resource capabilities. However, there is no room for complacency.
We have done a lot of work on cost reduction, getting ourselves lean, reducing our breakeven, reducing our fixed cost and increasing exports. All of these factors help because our export basket is not just automotive but also includes industrial products, railways and others.
From an operational perspective, exports challenge companies to design, develop, manufacture and supply products to discerning customers in global markets. This, in turn, motivates companies to scale up the value chain, which results in higher realisations.
I had the option of building a career in the U.S. Many of my friends who went at the time did not come back, but for me, building the family business and being with family was worth it. I became a general manager within four months, as I used my education to improve productivity and output.