In the mid-20th century, Australia was one of the world leaders in manufacturing. The manufacturing sector employs one out of every three Australians. Over the last four decades, the manufacturing sector in the country has been declining. The situation has been worsened by the outbreak of Covid-19 in 2020, which devastated the entire business sector. Vik Bansal, the CEO of InfraBuild, the top steel manufacturing and distribution enterprise in the county, was recently interviewed, and he explored the future of Australia’s manufacturing sector.
The promise of a bright future
Vik Bansal CEO said that despite the pandemic devastating Australia’s manufacturing sector, there is still the promise of a bright future. This is after the government created the Modern Manufacturing Initiative (MMI). This is a $1.3 billion fund meant to finance the rejuvenation of the country’s manufacturing sector and inspire long-term change that will enable it to reclaim its position as one of the world’s manufacturing powerhouses.
The InfraBuild CEO pointed out that the government also hopes that MMI will enable the manufacturing sector to win back its position as a pillar of the domestic economy. Revamping the manufacturing industry in the country will mean that enterprises across all sectors will have access to cheaper raw materials, allowing them to be more productive. Additionally, it will create thousands of blue and white color jobs for citizens. Bansal said that this would help bring the out-of-control unemployment levels in the country following the pandemic down.
About Vik Bansal
The InfraBuild CEO started his Australian career at Cleanaway, the largest waste recycler in the country. While he was in the waste management industry, he had several achievements, including spearheading the National Waste and Recycling Industry Council (NWRIC) launch. Before moving to Australia, Vik Bansal was the head of the Nebraska-based global manufacturing and engineering enterprise, Valmont Industry. He also spent some time as the head of its Asia operations.
Original source to learn more: https://www.vikbansalceo.com