Economy 2020: What role for manufacturing?

Astor Suite, House of Commons

The Issue
In launching a fund of £150 million to boost British manufacturing, business secretary Lord Mandelson said, ‘We, like other governments, had taken for granted that our wealth would continue to be generated from the size of the financial sector, and that this would be replicated in the coming decade – but it won’t.’ Evidently, we are facing a radical shift in the income basis of the UK economy, but to what?

 

In the Manufacturing Strategy Review, of September 2008, government sets out its plans for ‘a globally competitive manufacturing sector that leads the world in capturing higher value components of the global value chain, whilst consolidating areas of existing comparative advantage, including activities within high technology manufacturing.’ But there are many challenges to achieving this vision. Can the UK manufacturing sector rise to the challenge? Is the right support being provided?

 

The breakfast briefing on the 27^th gave Parliamentarians an opportunity to find out first hand what the state of and opportunities for the Manufacturing Sector are, and where strategic support should be provided, by addressing some of the following questions:

 

Presentations from Sir Alan Rudge, Chair of the ERA Foundation, from Sunil Chopra, Vice President TATA Consultancy Services (UK), from Nick Hussey, Director of Manufacturing Insight and from Ian Lucas MP, Parliamentary Under-Secretary of State with Responsibility for Manufacturing were followed by Q & A and discussion, chaired by Derek Wyatt MP.

 

Sir Alan Rudge is the Senior Independent Director on the Board of Experian Group Limited and Chairman of the Board of Management of the Royal Commission for the Exhibition of 1851.  He is Chairof the ERA Foundation and a past Chairman of ERA Technology Ltd. Until December 2007 was a Pro-Chancellor of the University of Surrey.  He was Deputy Chief Executive of BT until 1997 and was subsequently Chairman of WS Atkins until 2001, Chief Executive and then President of Celtel International BV and Special Adviser to General Atlantic Partners until 2004. Sir Alan is a former Chairman of the Engineering and Physical Sciences Research Council, a past President of the Institution of Electrical Engineers and Chairman of the Engineering Council. He has served on a number of national committees including the Government’s Advisory Committee on Science and Technology.

 

Currently, Vice President and Global Head of Sales, Banking and Financial Services based in London. Sunil Chopra joined Tata Consultancy Services in 2002 responsible for relationship management of top global Banking & Financial Services clients. Prior to TCS, Sunil was with Standard Chartered Bank and ANZ Grindlays Bank for 20 years, leaving as Regional Head Corporate & Institutional Bank, managing over 250 clients covering MNCs and large Indian Corporates. Key responsibilities included developing strategic initiatives with McKinsey & Co, leading a committed and motivated team to achieve stretch targets and build the franchise to achieve dominance in chosen markets. Besides Corporate Banking, he held senior roles in the Investment Banking Division originating Project Finance, Capital Markets, International Structured Finance and Corporate Finance advisory services leading cross-functional teams to exceed clients’ expectations. In Retail Banking he introduced a portfolio of new personal, car and home loans.

Sunil was CEO of a financial services company in India, offering leasing, hire purchase, money market products and started a bank in Nepal.