In 2020, writing anything without mentioning COVID-19 has become nearly an impossible task. The virus has spread everywhere, including literature and machinery. Indeed, one of the worst-hit industries was the manufacturing sector. Mandated lockdowns across the global ecosystem disrupted supply chains, stopping the flow of materials, intermediate parts and finished goods. Huge factories and other manufacturing units were forced to halt or curtail operations because of a lack of workforce and parts. It is estimated that a significant number of Fortune 1000 firms have been severely affected by the pandemic.
Perhaps, 2020 was one of the worst times for the manufacturing industry. However, the pandemic can also be an opportunity for Indian manufacturing companies to revisit their competitiveness in the international market. In fact, the disruptions due to COVID-19 has highlighted the importance of supply chain management and remote work. It is also an opportunity for manufacturers to take a fresh look at their operations and take bold steps to convert these challenges into opportunities for diversification and growth.
In this issue, we have come up with “10 Most Innovative Manufacturing Companies in India” that have overcome the challenges of the pandemic to put India back on the path of economic growth. We have also featured “10 Most Inspiring CXOs in Indian Manufacturing Industry” who have risen to the occasion during a difficult time. On the cover, we feature Timken Indian Limited, which is now synonymous with quality and unmatched engineering everywhere they do business.