India’s manufacturing industry will feed global demand, says Mahesh Gupta

Budget 2024: Mahesh Gupta, Chairman of Kent RO Systems, has expressed a strong belief in the potential of India’s manufacturing industry to become a global leader. Speaking to Republic Business ahead of the Union Budget 2024, Gupta underlined the need for rapid growth in the sector to boost the country's GDP and achieve developmental milestones by 2047.

Gupta highlighted the current contribution of manufacturing to India’s GDP, which stands at approximately 23-24 per cent, noting that this figure must increase for the nation to realise its economic aspirations. He acknowledged the government’s efforts in implementing policies to support the sector but stressed the need for further initiatives.

A significant focus of Gupta’s discussion was the growth of Micro, Small, and Medium Enterprises (MSMEs). He pointed out that MSMEs are crucial for employment, particularly in a labour-intensive economy like India. Gupta called for increased support to MSMEs, including improved access to funds and more robust measures to ensure timely payments from larger corporations.

Potential substantial growth

"The private sector needs to borrow more funds, and the share market presents a positive avenue for this," Gupta stated. He highlighted the impact of the Production Linked Incentive (PLI) scheme, noting the surge in activities within the manufacturing industry. The ‘China Plus One’ strategy, according to Gupta, positions India as a viable alternative, especially given its manpower and technical expertise.

Gupta identified several sectors set for substantial growth, including solar and semiconductor manufacturing. He expressed optimism about foreign investment flowing into these areas, suggesting that India could not only meet its domestic needs but also become a significant exporter.

India to lead AI development

On the technology front, Gupta highlighted India's potential leadership in artificial intelligence (AI). He credited the country's vast pool of software engineers and noted the recent success of Indian IT companies in the international market, driven partly by advancements in AI. 

"AI is set to play a pivotal role in both the service and manufacturing sectors," Gupta said, underscoring the transformative impact of automation and AI on large industries.

Mahesh Gupta’s journey

Mahesh Gupta is a first-generation entrepreneur recognised for his contributions to the water purification industry in India. He is the founder and chairman of Kent RO Systems, a leading company in the Indian water purifier market. 

Gupta graduated from the Indian Institute of Technology (IIT) Kanpur with a degree in Mechanical Engineering and furthered his education at the Indian Institute of Petroleum, Dehradun. He began his career in 1978 with Indian Oil Corporation Limited (IOCL). In 1988, he left IOCL and, with limited seed capital, started a business manufacturing instruments for oil testing and monitoring, which he commercialised under the brand name KENT Oil Meters.

In 1998, Gupta expanded into the healthcare sector by launching a domestic reverse osmosis (RO) water purifier. Competing with both national and international brands, Kent RO Systems Ltd. has grown to become a leading company in the Indian water purifier market, holding a market share of about 40 per cent in the RO segment.

As India prepares for the Union Budget 2024, Gupta's insights underscore a vision of a dynamic, globally integrated manufacturing sector. With strategic support and investment, India is poised to enhance its manufacturing capabilities and assume a leading role on the world stage.