New Delhi [India], October 5 (ANI): India will need to match and eventually surpass global manufacturing benchmarks set by countries like Japan, South Korea and China to secure a larger share of global manufacturing, said Venu Srinivasan,Chairman IFQM; Chairman Emeritus, TVS Motor Company, adding that building globally trusted Indian products remains an “important challenge” for the country.
Addressing the annual IFQM (Indian Foundation for Quality Management) Symposium 2026, Srinivasan said India has reasons to be confident about its progress, with several domestic companies already achieving international standards of quality.
“Today, India has every reason to be confident that we can progress. There are many ways we can see it in our daily lives in companies that have achieved international standards of quality,” he said.
However, Srinivasan stressed that India still has considerable ground to cover to compete with leading global manufacturing economies. “We have a long, long way to go because we have benchmarks in the world from Korea, China, Japan that we have to meet and exceed if you want a fair share of global manufacturing and products and services to come to India,” he said.
He further noted that India’s ambition of becoming a developed economy by 2047 cannot be built solely on cost competitiveness and will require greater emphasis on “innovation, product, design.”
He identified quality and trust as critical to strengthening India’s position in global markets, stressing that the country should aim to make its products synonymous with quality.
“The Germans stood for quality...came Japan, Korea, China, and India has to very soon get on that bandwagon where you can buy an Indian product because it's a trusted product,” he said, stressing “This is the most important challenge for us.”
Srinivasan also stressed that improving quality is a continuous process as companies, products, processes and services are constantly overtaken by newer waves of development. “We have seen how companies have come in waves, products, processes, services, and have been overtaken by the next wave. So, we need to understand that this is a continuous process of speaking and process organizing,” he noted.
Tata Sons Executive Chairman Natarajan Chandrasekaran also addressed the event, however, he declined to interact with media. (ANI)
India must surpass global quality benchmarks to win larger global share; trust remains “important challenge”: Venu Srinivasan
