"China has six times GDP of India: Said Narayana Murthy, Click here to know about the full details:

At the 'ELCIA Tech Summit 2024,' Murthy voiced doubts regarding India's capacity to match China's manufacturing dominance. He emphasized that significant advancements in this field for India hinge on enhanced government participation and public governance reforms.

India's ambition to surpass China and emerge as a global manufacturing hub is fraught with substantial challenges, as per NR Narayana Murthy, the co-founder of Infosys. At the 'ELCIA Tech Summit 2024,' Murthy voiced his doubts about India's capacity to match China's manufacturing might, emphasizing the need for government intervention and enhancements in public governance for India to achieve meaningful advancement in this domain.

He advised against prematurely adopting lofty designations such as "hub" and "global leader." "China has already established itself as the world's factory. Approximately 90% of items found in supermarkets and home depots abroad are produced in China. Their GDP is six times that of India.

Claiming that India will become the manufacturing hub is overly bold," he remarked. This stark contrast highlights the extensive ground India must cover to compete with China's manufacturing stature.

The co-founder of Infosys noted that while the IT sector is export-driven, the manufacturing sector largely depends on domestic input and government support. "In manufacturing, the domestic contribution is significant, and the government's role is crucial to its success," he stated. 

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He pointed out that there is still a need for improvement in response time, transparency, accountability, speed, and excellence in public governance in India. He stressed the importance of minimizing the government-industry interface to boost manufacturing growth.

Furthermore, Murthy highlighted the necessity for entrepreneurs to accurately evaluate market conditions and utilize straightforward mathematical models to maximize value. "Entrepreneurs must learn how to analyze the market and calculate the potential share they can secure," he advised.

 "They must be capable of creating straightforward mathematical models to achieve greater leverage in value compared to other market ideas. This expertise and skill are essential for success," he elaborated.

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Looking forward, Murthy voiced his belief in the enduring nature of human ingenuity in the face of AI's advancement. "AI will not supplant designers or those who deploy extensive application systems, as their complexity is too great.

Extensive data dictionaries, programming, and interconnectivity among all elements will be necessary. The inventiveness and strength of the human intellect surpass these systems," he declared.