Learn about the companies from the Industrial sub-contractors Sector in India
Subcontracting is referred to a collaborative relationship where the large industries procure the manufactured products, components, and sub-assemblies from various small firms. Subcontracting is also related to job work. In this, the main firm offers raw material to small sectors. 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. There is consistent growth in this sector. Many organisations in the subcontractor sector can help to engage in industrial work. The scope is vast. Engaging with large firms or even collaborating with one is beneficial. Most subcontractors take up manufacturing products only when they receive orders from their parent company. They get the specification from the parent company and make custom products for them. Their growth and progress usually depend upon the progress of the parent company.
State policies have been aiding the subcontracting sector in every way. Various policies have come into existence for the small-scale sector and protect the small-scale sector and developing them in the machinery manufacturing sector. Taxation system can be one of the reasons for the growth of subcontracting in India. Focusing on the small firms will help them get into the main picture.
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