Vik Bansal Shares His Thoughts On Australia’s Manufacturing Sector Recovery Post-Pandemic

Vik Bansal is one of the celebrated business leaders internationally. Current, he’s the CEO of InfraBuild, Australia’s leading steel producer, recycler, and supplier. Australia’s manufacturing sector was among those highly affected by the COVID-19 pandemic. At the moment, the pandemic is gradually ending, and the industry is embarking on getting to its former state.

According to Vik Bansal CEO, the pandemic indicates that the Australian government has neglected the manufacturing sector, allowing it to deteriorate from its glory in the 1970s when it accounted for over 30% of the country’s GDP. He highlighted that as the sector moves towards the post-pandemic world, the government has started offering support. This support results from the MMI (Modern Manufacturing Initiative), a program worth $1.3 billion meant to help the sector return to its former glory.

Vik Bansal says that besides offering grants to manufacturing enterprises to help them expand their businesses, the money is also meant to promote sustainable practices in the industry. Bansal also added that MMI aims to establish a local market for the manufacturing sector because the pandemic has revealed that overreliance on the global market can result in a significant problem. Bansal also notes that although the government has failed to support domestic manufacturing, the sector can reach greater heights if the industry and government work together.

About Vik Bansal

With more than two decades of experience in management across Australia, the United States, and Asia, Vik has significantly contributed to the growth of various industrial organizations, including Eaton Corporation and One Steel Limited. He boasts exceptional academic qualifications, including an MBA, Bachelor of Electrical Engineering, and the INSEAD Advanced Management Program accreditation. He previously worked as Cleanaway’s CEO, the leading waste management firm in Australia. He’s an affiliate of the AICD and Fellow of Engineers Australia. In addition, he’s one of the founding members of the NWRIC.

Learn more about Vik Bansal: https://www.nwric.com.au/team-member/vik-bansal/