Sanjay Kirloskar, chairman & MD, Kirloskar Brothers Ltd., was the keynote speaker at the GCCI 117th AGM on Saturday. The veteran industrialist called on Goan enterprise owners to make the best of the current interest of global investors in India. His speech dwelt on the flexibility of SMEs to innovate and excel, reports Abdul Wahab Khan
In a powerful address that resonated with both established industrialists and budding entrepreneurs, Sanjay Kirloskar, chairman and managing director, Kirloskar Brothers Ltd., outlined a compelling vision for India’s manufacturing sector at Goa Chamber of Commerce & Industry (GCCI), 117th Annual General Meeting on Saturday.
The fourth generation industrialist, whose company traces its roots back to 1888, emphasized that India stands at a pivotal moment in its economic journey, with manufacturing poised to become the cornerstone of the nation’s growth story.
“At a time when many countries are grappling with uncertainty, inflation and protectionism, India continues to stand out as the world’s fastest growing large economy,” Kirloskar said. “This is not just a statistic; it’s a testament to the resilience, innovation, and capacity of Indian enterprises, both large and small.”
Kirloskar highlighted impressive projections for the manufacturing sector, which is expected to reach $ 358 billion in sales by 2025, and exceed $523 billion by 2030. This growth trajectory, he noted, signals India’s potential to become a global manufacturing powerhouse.
“We’re not just manufacturing more; we’re manufacturing smarter, faster, and better,” he stated. “From mobile phones to luxury goods, from automobiles to precision products, foreign brands are no longer just looking at India as a market, but increasingly as a manufacturing powerhouse.”
The industrialist traced his own company’s journey from its humble beginnings, recalling how Kirloskar Brothers started as a small enterprise in rural Maharashtra. “In 1888, we were also a startup,” he reminisced, sharing how the company received support from the local ruler who provided land and tax benefits to foster industrial growth.
Drawing parallels to today’s business environment, Kirloskar advocated for a shift in perspective. “As a friend of mine recently said, we need to move from ease of doing business to joy of doing business. I think that’s what we really require,” he remarked, drawing appreciative nods from the audience.
A significant portion of Kirloskar’s address focused on the unique advantages that Indian small and medium enterprises (SMEs) bring to the global marketplace. “What sets Indian SMEs apart is not size. It is agility and diversity. Unlike the high-volume standardisation of other manufacturing hubs, Indian SMEs thrive on customization, flexibility and innovation,” he explained.
However, he also acknowledged the challenges facing the sector, particularly in terms of sustainability and compliance with international standards. “In these times, success demands more than affordability or accessibility. It requires accountability,” Kirloskar emphasized, adding that green manufacturing is, “not just an environmental imperative but a strategic business advantage.”
The speech took a patriotic turn when Kirloskar spoke about the importance of supporting Indian-owned enterprises. “If we genuinely believe in the vision of Atmanirbhar Bharat, we must go beyond celebrating manufacturing in India,” he asserted. “Government incentives must serve a clear purpose, empowering Indian-owned enterprises to not just survive, but thrive and compete on the global stage.”
Kirloskar called for prioritizing Indian-owned companies in public procurement and creating a level playing field where homegrown businesses can be “front runners in their own country.” He pointed out that developed nations like the US, Western Europe, China, Japan, and Korea protect their domestic industries while advocating for open markets elsewhere.
The industrialist also stressed the importance of intellectual property protection for SMEs, noting that many small enterprises “innovate at the process and product level, but lack awareness, capacity, and resources to protect their intellectual capital.”
Concluding his address with an inspiring message to young entrepreneurs in the audience, Kirloskar declared, “This is your moment. The next decade is about creating a more resilient, inclusive, and sustainable manufacturing story for India.”
