Know about the industrial subcontractors

Details of subcontracting
Subcontracting is referred to a collaborative relationship where the large industries procure the manufactured products, components, and sub-assemblies from various small firms. The subcontracting is also related to ‘job-work’ in which the main firm offers all the raw materials to small sectors, and then these firms turn them into the desired form. Subcontracting is usually done on a temporary basis, and the business deals are signed up. Some also take place on a permanent basis with the collaborative relationship. It is also a specific aspect of the organization of the industrial production in which various firms co-exist in production and investment decision too. The growth in this sector is consistent, and we see many of the organizations in the subcontractor sector that can help to engage in industrial work. The scope is vast in this sector and engaging with large firms or even collaborating with one is seen as a beneficial sector. Most of the subcontractors take up manufacturing products only when they receive orders from their parent company. They get the specification from the parent company and makes custom products for them. Their growth and progress usually depend on the progress of the parent company.

Government policies
State intervention in the economic development of India has increased the potential and growth of the subcontracting relationships in the country. The policies have been aiding the subcontracting sector in every way. Various policies have come into existence for the small scale sector and protect them and also to develop them in the machinery manufacturing sector. The taxation of the government can be one of the reasons for the growth of subcontracting in India. Focusing on the small firms will definitely help them get into the main picture.
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Industrial subcontractors

India

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