- Do not venture into a starting a factory, till you have work-experience of that industry.
- Owning a factory allows you to be very flexible. No one dictates you. You are your own boss. Plus, it provides huge income, if done well.
- On the other hand, corporate sector provides good enough money, but gives high stress. I know it, because I have seen both worlds.
- Owning a factory involves risk as well, as we have constantly keep abreast with market changes.
Where have you been born and raised?
I was born and brought up in Delhi. I have two elder sisters. I did my schooling from a local government school. I have always been interested in playing TT and Badminton. I used to be good at drawing and I Loved maths. I always thought I was inclined to do something entrepreneurial and therefore I run my own company now.
What is your family background? Who all had the most influence on you and how?
My father was a PGT maths teacher in a government school. So, we were provided a government accommodation. My mom was a housewife and belonged to a business family from Sonipat.
I think, my father had the most influence on me. He taught me values of discipline, dedication and commitment. Even though, he was tough with me, but that has really helped me in life.
Please give us a summary of your career, chronologically, including organisation names and your role/designation.
Then, I joined the Institution of Engineers and graduate in 1985 with a degree in Electrical Engineering called AIME ( Associate Member of Institute of Engineers). From 1986–2004, I worked in multiple companies and industries some of which are — Khetan Electricals limited, Danfoss India Limited, Flex Engineering Limited, Indfoss Industry Limited etc.
After 2004, I started my own business which I run till date.
Which institutes are best for the education/training of this profession?
What are the costs associated with the education/training of this profession?
Government colleges have minimal fees. IIT charges more fees than NIT. The tuition fee for IIT would be around 2 lakhs whereas for NIT would be around 1.3 lakhs.
What are the typical entry level jobs in manufacturing industry?
In the Manufacturing Industry, you don’t really need to do a master’s degree and can start work after your undergraduate degree.
What is the range of remuneration one can expect in your manufacturing industry?
Following is the average salary range of Manufacturing Industry, when I was in the job
- 5 years of experience – About 7 to 8 lakhs
- 10 years of experience – About 12 lakhs
- 20+ years of experience – About 15+ lakhs
Now, I run my own manufacturing unit, which manufactures sheet metal components used in various electronics such as ceiling fans, electric iron, exhaust fan etc. The Turnover of my company is around 7 crore and I have 70 employees and 70 machines.
Describe your work?
My day to day activities include planning of business models, marketing and negotiation and purchase of goods and raw materials required for manufacturing of products. I work roughly 7–8 hours a day; 6 days a week. In a week, on an average 40–50 hours a week.
My company promises the following aspects — quality of components, on time delivery, commitment and cost effectiveness.
What are some of the positives, which would encourage someone to consider career/job in manufacturing industry?
When you have your own business, you are your own boss and a boss to many others. No one dictates terms to you.
In Manufacturing Industry, there is flexibility in the sense that one can experiment with ideas. It is very easy to accommodate innovative ideas.
Taking calculated risks is not a big deal because outcomes are likely to be positive.
What are some of the challenges that you would want someone to be aware of when considering career/job in manufacturing industry?
Some challenges that we face include changing market situations since markets are very dynamic and change very rapidly.
Not only that, we have increasing challenges in the form of high product expectations from our end customers.
Handing labour is also very challenging, as they create all sorts of problems. These days, labour won’t hesitate even once before going on a strike.
Finally, we have to go through a lot of government formalities to actually run and manage a company.
What are the relevant trends/skills/technologies that are currently commanding premium in your job profile?
A person needs to have innovative skills and creativity. That person should be well versed in automation technologies. Most importantly, he should be dedicated and be committed to his goals.
What kind of person would be happy in manufacturing industry?
A person who wants to earn money but has gone through a lot of hard-work. There will also be moments of frustration and tension, so you must know how to deal with stress effectively.
Given another choice, what would you do differently as far as your professional selections are concerned?
No. I am very happy in what I am doing as I get to follow my passion of setting up my own business and working and growing it.
What would be your advice to students or professionals who are just starting their journey on a path similar to yours be?
I would suggest young people to be focused and not let anything distract you from your goal. And people who want to venture into starting their own business, you should gain experience of at least five years and then experiment.