BY: SHARAD KUMAR SARAF & ATUL SINGH
Rare Story of a Global Indian Manufacturing Success
Sharad Kumar Saraf, IIT Bombay graduate, chose India over US, leading REMI Group in manufacturing.
Saraf learned trade secrets in East Germany, founded Technocraft challenging a US drum closure monopoly.
IIT Bombay-educated Saraf brothers cracked complex closures, led Technocraft to global success by 1990.
Saraf's firm produces 65M closures, no captive market. Partners with JSW, serves globally from 3 factories.
Saraf brothers excel in India due to quality control, China's efficiency and less corruption are advantageous.
Colonial constraints, corruption stifled Indian business until 1991 liberalization unlocked economic growth.
Corrupt licenses, restrictions stifled Indian industries, hindering growth and favoring corruption.
Saraf lauds Indian IT triumph, links success to limited control. Advocates local incentives for growth.
Saraf calls for simplified land laws, industry incentives, reduced entry barriers for manufacturing growth.
Saraf advocates government role, mandates certified skilled labor for improved quality, growth in India.
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