The pace to transform Indian manufacturing industry has been profoundly blistering.

India's engineering research and development (ER&D) providers is estimated to capture about 40% share of global offshore revenues in 11 key verticals by 2020.

The world is impressed with the acquisitions the Indian manufacturing companies are making across the world to showcase cost & efficiency benchmark.

The engineering sector consolidates with companies from capital intensive industries and their suppliers in the machinery and components field.

India is expected to emerge and will continue to witness strong growth in major industries due to robust demand for construction, civil engineering, automotive and mechanical engineering with an installed capacity of 300 million tonnes of steel production, 800 million tonnes of cement, 1,5 billion tonnes of coal and 300 million vehicle fleet by the year 2030.

India ranked second in terms of manufacturing competence and the country's talent pool of scientists, researchers and engineers together with its English speaking workforce and democratic regime makes it an attractive investment destination for manufacturers from around the world.

The industrial output registered a growth of 7,8% in 2010-11. Among the three major constituents of the Index of Industrial Production (IIP), mining and manufacturing recorded growth rates of 5,9% and 8,1% during this period and the third constituent, electricity index, registered a growth rate of 5,6% in 2010-11.

A high level committee has also approved the draft ‘National Manufacturing Policy' that seeks to increase the share of manufacturing in the GDP to 25% by 2022 from the current 15% to showcase the significance of this sector as India stands out as a promising nation to be a global manufacturing hub.

The manufacturing sector is to offset the margin squeeze and focus on increasing operational efficiencies in order to reduce operating costs and improve the quality of output.