Vik Bansal's perspective on Australia's manufacturing industry.

The Covid-19 pandemic has brought many economic sectors to a standstill. This relates to the manufacturing industry, which has been the most affected since the pandemic. The industrial sector was left with increased demand, shortage of labor, and scarcity of raw materials. The effect led many countries to rethink their dependencies on foreign countries, including Australia, as the major producer of steel products for the past years.

Vik Bansal, the CEO of Infrabuild, says that the pandemic has been a learning curve for Australia in realizing its need to revive the manufacturing sector. According to Vik Bansal, Australia has one out of 13 Australian workers in the manufacturing industry compared to 3 in the mid 20th century. The manufacturing industry contributed 30% to the national GDP compared to today’s 6%. Bansal states that Australia rather exports the raw materials to other countries who add value to the sell the products back to them.

According to Vik Bansal, the ideal way to stop thr global reliance in international trading markets and partners, supply chains is to acknowledge its thriving domestic manufacturing industry. He notes that strengthening tee domestic industry will positively affect the employment of Australians that yield healthy economies and societies. Vik Bansal points out that a country with a thriving domestic industry will have economic stability and sustainability that creates a creative culture for other sectors of the economy.

Vik Bansal is the CEO at InfraBuild, where he joined in the year 2021. He formerly served at Cleanway as Chief executive officer and managing director from 2025. Vik Bansal has 20 years of experience serving as a leader in the top manufacturing industries in Asia, the United States and Australia. Throughout the years, Bansal has maintained a track record leading industrial corporations in growth and development.

Original source to learn more: https://www.nwric.com.au/team-member/vik-bansal/

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