From Follower to Leader: India’s Rise in Shaping Global Industrial Standards
For decades, India has been a major player in global manufacturing, known for its skilled workforce and competitive production costs. However, the narrative is shifting. India is no longer just following established standards; it’s actively shaping them. This newfound influence is driven by a confluence of factors, including a booming domestic market, a surge in foreign investments, and a growing pool of scientific and technical talent.
The data speaks for itself
According to the “Global Credit Outlook 2024” by S&P, India is projected to be the fastest-growing emerging market globally. This growth is fueled by initiatives like “Make in India,” which aims to attract foreign investment and create a robust domestic manufacturing ecosystem. S&P’s perspective comes just a few days after India experienced a quicker-than-anticipated GDP growth rate of 7.6% for the September quarter in 2023.[1]1
Some prominent examples include the following :
India, through the Department of Telecommunications (DoT), has played a key role in the framing of the International Telecommunication Union (ITU)’s 6G Framework2
TCS is a member on several standards bodies like OMG, the Object Management Group, the group, which define the core CORBA certification. 3
These companies are not just replicating existing technologies; they’re actively innovating and developing cutting-edge solutions. For instance, Tata Motors’ electric vehicle technology is being recognized for its efficiency and affordability, potentially influencing future standards for sustainable transportation.
International Recognition
This rise in Indian influence is not going unnoticed. Ursula von der Leyen, President of the European Commission, recently acknowledged India’s role in shaping global energy standards through its focus on clean energy solutions.
For the European Union, the partnership with India is one of our most important relationships for the coming decade and strengthening this partnership is a priority.
And here, I am thinking of three main topics – trade, technology and security. That is why I am pleased that today Prime Minister Modi and I have agreed to establish an EU-India Trade and Technology Council. The EU has only one TTC so far – with the US, and I think it is telling that we now establish the second one with India. Also because India is technologically a powerhouse, and in the trade sector we need to unleash an enormous amount of untapped potential.
Statement by President von der Leyen with Indian Prime Minister Modi (link)
Similarly, industry leaders acknowledge India’s growing expertise. Bill Gates, co-founder of Microsoft, has spoken about India’s amazing potential for innovation, further solidifying its position as a leader in setting the bar for future industrial advancements.
“… But when I think about India’s most important contributions to the world, these are not the first things that come to mind. India’s greatest gift is its ability to innovate.”
India’s rise as a standard-setter is a testament to its growing economic and technological prowess. As the nation continues to innovate and invest in its industrial base, its influence on shaping the future of global industry is certain to grow.
Opportunity for Industry Leaders in India
It brings a fortunate opportunity for industry leaders in India to play increasingly important role in standards setting. As these leaders strengthen their global brands, the respect and recognition increases which opens doors for higher involvement in the standards consortiums.
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