The world supply chain has primarily been affected by the covid-19 pandemic. Several factors have led to the effect of the supply chain, including a shortage in covid-19 related labor and a decrease in raw material, and what began as a bottleneck at international shipping terminals has gone down to affect the warehouses. The strain has been caused by the overwhelming system that leads developing countries to rethink their dependency, and Australia has not been left behind. Despite the reopening and the recovery of business worldwide, the effects of the pandemic are felt.
However, Vik Bansal believes that where there is a will, there is weakness there is an opportunity. Vik is the Chief Executive Officer of InfraBuild, one of the Australian leading integrated steel manufacturing and distributing companies. Bansal has been working as the Chief Executive Officer of the organization. Still, he is also advocating for the country to emphasize waste management and the construction of waste recycling infrastructure. Vik believes that the manufacturing sector of Australia will go back to its glory; with determination and strength, the industry can expand.
According to the Chief Executive Officer, the Covid-19 pandemic has revealed that Australia has not been putting efforts into the manufacturing industry, and the sector has deteriorated. According to the record, one in three Australians served in the manufacturing industry, unlike today, where only one in 13 people are working in the manufacturing industry. The Australian domestic gross was made y the manufacturing industry 50 years ago, but today less than 6% of domestic gross of the country comes from the manufacturing sector. Australia is now choosing to export raw materials to other countries, only for her to import the finished products.
In October 2020, the Australian government launched a new project named Modern Manufacturing Initiative, a $1.3 billion project; the project is meant to change the country’s manufacturing sector. Vik mentioned that he is excited about the manufacturing industry of Australia and the effort made by the government.
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