India Emerges as Global Precision Manufacturing Hub

India has become a leading center for precision manufacturing and sourcing on a global scale due to its technical skills, skilled labor force, cost advantages, and supportive government policies, as per industry experts.

Prashanth Prakash, a partner at Accel, a prominent venture capital firm, predicts that robotics, precision manufacturing, and the integration of soft technology with hard manufacturing will be the key focus areas for venture investors and founders in the upcoming years.

“I think there's now a marrying of soft tech and hard manufacturing, coming together in areas such as robotics and precision manufacturing, because there is really a gap globally in these spaces,” said Prakash in an interview during the unveiling of the 'Bengaluru Rising' report by UnboxingBLR Foundation at the Bengaluru Tech Summit. “The number of aircraft that need to be manufactured to meet just the demand in India is seven times the capacity present at two of the large plane makers or any of these other companies. India has a unique advantage to complement and provide that additional capacity in aerospace,” he said.

While traditional companies have historically concentrated on these sectors, Prakash noted that many entrepreneurs and venture capital firms are anticipated to enter these areas and provide financial backing.