Shift Of Industries From Globalisation To Localisation

Jinal Palkhiwala, Director – Inmobel Doors, Insight (Architects | Interiors | Modulars) The occurrence of the pandemic has definitely changed a lot in every market both for suppliers and consumers. An abnormal wave of issues in terms of import, export, resources, etc. has coaxed industries to adapt to their immediate surroundings more than ever. In regard to that, I strongly believe that there has been a gradual shift of industries from globalisation to localisation. Amidst the pandemic import of raw materials, machinery and even finishing products such as steel and door frames has been put to a standstill. Resources have become harder to obtain via import and hence markets are shifting their dependencies from global to local. Chaotic logistics and limited availability became key to making a stronger local system in a short period of time. Not only this, a lot of people, companies and even countries have detached themselves from the Chinese market. The Indian government has taken drastic measures to increase India’s independence in almost every market. Both upcoming and existing businesses have been given innumerable incentives to boost their individual and market economy. Make in India especially has taken a very positive toll on the moral of manufacturers and especially local businesses that faced massive competition from cheaperimported products. Over the past few months, masses have also found an emotional disconnect towards China through this episode which fuelled the process of localisation. Indignity would also help resolve a lot of local availability and dependency problems. If the market can keep up with the momentum for a longer period of time a lot of issues can be easily ruled out. Builders have started showing drastic inclination towards getting raw materials like stone or steel from nearby areas to assist “green building”. Essentially, green building reduces the carbon footprint along with the costs, leading to a more successful project for the company as well as the market. In addition, given the restricted movement of goods and people for another year, to say the least, clients have been eyeing Indian (local) designers more. I foresee this graph going upwards in the near and later future because we have an inordinate talent pool. As aforementioned, China had been a huge supplier of products to our country which is now reducing, hence, clients will also tend to focus on more products that have been locally manufactured. India also has the potential to thrive under the global intention to boycott Chinese goods. It has a lot to offer to every market going from exports to being a manufacturing hub for multinational companies. Going local will allow us to showcase a promising future to both our regional and global market. My only concern in terms of manufacturers bringing in locally manufactured building products is not being able to meet the demand. Furniture as a finishing product was largely imported from various countries especially China because it proved to be inexpensive. Make in India is now unveiling the true potential of this industry in a local sense. However, in the short run, lack of technology in terms of machinery, systems and otherwise can really put us a step backward as we try to produce the quantum required. While a lot of industries are heavily equipped to come to fruition, there are quite a few others where the impact of going local will be jarring. The technology and infrastructure required, that each sector desires, will take a certain amount of time to get to pace but soon systems and processes will be streamlined. All in all, everyone is doing their bit to overcome this situation which will eventually make the country prone to being stronger locally.