Syska will continue to support the government’s mission of being Atmanirbhar

Rajesh Uttamchandani, Director – Syska

“We welcome the measures announced by the Union Cabinet to support the manufacturing sector through the production-linked incentive (PLI) scheme. The announcement for infusing a budget of Rs 6,238 crore towards air conditioners and LED lights will play a significant role in supporting home-grown businesses such as Syska Group to become truly Atmanirbhar (self-reliant). This scheme will present immense opportunities for our business as it will help in increasing our manufacturing capabilities for LED lighting products. Further, it will also support in raising the quality and system of production, help in generating employment opportunities as well as aid in increasing exports. This scheme will also enable cost competitiveness for the domestic industry. We are positive that these measures will make India an integral part of the global supply chain and will create global leaders of manufacturing in India.

This approved scheme by our honourable Prime Minister Shri Narendra Modiji will tremendously increase India's vision to become Atmanirbhar in the true sense, and further fuel its ability to become a global manufacturing hub. This initiative will offer extensive opportunities for home-grown companies as it will help in further augmenting the quality and method of production thereby making the country a global manufacturing hub. This will also help us bring in digital technologies that can boost productivity, adopt advanced machinery, strengthen infrastructure capabilities and upskill the workforce. Companies such as Syska will continue to support the government’s mission of being Atmanirbhar by constantly developing innovative products in-house.

We are confident that the scheme will further help establish India as a global manufacturing hub by boosting exports and making India a prominent leader of the global supply chain. The scheme has been designed to create a complete component ecosystem by making India a fundamental part of the global supply chain. This will provide companies with a fillip to invest in technology to stimulate productivity in various aspects of functioning and result in a significant enhancement of manufacturing that will help companies such as ours to amplify the business operations.

The PLI scheme has been deployed to help produce large-scale employment, encourage domestic manufacturing and overcome import dependence. Additionally, this allows for investment in the expansion of our business, besides providing flexibility to accelerate our manufacturing process. Further, it also provides an opportunity to conduct innovation, research, development and upgradation of technologies. Few years ago, a large chunk of the unorganized sector selling forfeited products posed a huge challenge / barrier for brands. However, with time, the overall share of the unorganized market has reduced. This is due to consumers gradually understanding the importance of relying on branded products that offer benefits such as durability, superior quality, customer service support, warranty and guarantee, thereby augmenting customer experiences. There is a great opportunity to streamline the process and further reduce the share of the unorganized sector by offering consumers products and services that will bring about convenience in their lives.”

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