India Must Surpass Global Quality Benchmarks to Win Market Share
Venu Srinivasan says India must exceed quality standards of Japan and China to win a larger share of global manufacturing.
India stands at a critical crossroads in its journey toward becoming a global manufacturing powerhouse. To capture a significant portion of the international market, the nation must not only match but exceed the stringent quality standards currently set by global leaders like Japan, South Korea, and China.
Speaking at the annual Indian Foundation for Quality Management (IFQM) Symposium 2026, Venu Srinivasan, Chairman of IFQM and Chairman Emeritus of TVS Motor Company, emphasized that while India has made significant strides, building globally trusted products remains a formidable challenge for the country.
The Quest for Global Trust
Srinivasan pointed out that while several domestic companies have already achieved international standards of excellence, the broader industry still has a long road ahead. For India to successfully attract a larger share of global manufacturing and services, it must move beyond being just a low-cost production hub.
The Shift from Cost to Innovation
The ambition for India to transform into a developed economy by 2047 requires a fundamental shift in strategy. According to Srinivasan, the nation's future growth cannot rely solely on being cost-competitive. Instead, there must be a massive emphasis on:
- Innovation
- Product Design
- Reliability and Trust
He highlighted that historical manufacturing giants have built their reputations on the concept of 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," Srinivasan stated. He identified this transition—making "Made in India" synonymous with "Quality"—as the most vital challenge facing the nation today.
A Continuous Process of Evolution
The symposium also touched upon the evolving nature of industrial standards. Srinivasan warned that quality management is not a static achievement but a continuous cycle. As new waves of technological developments emerge, existing products, processes, and services are constantly being overtaken by newer, more efficient innovations.
He urged industries to adopt a mindset of continuous improvement to ensure they are not left behind by the next wave of global development. While the event also featured Tata Sons Executive Chairman Natarajan Chandrasekaran, the latter declined to engage with the media during the proceedings.