JOIN US The ‘Make in India’ initiative is poised to transform Indian manufacturing in the age of Industry 4.0, an executive of a top rating agency said on Monday.
Delivering the keynote at the two-day symposium on ‘Smart Manufacturing’ organised by the Indian Machine Tool Manufacturers’ Association (IMTMA), Frost & Sullivan Associate Director (South Asia, Middle East and North Africa Region) Arunkumar Janarthanan said, “Energy, automotive and electronics are likely to become first movers into advanced manufacturing, and emerge as substantial contributors to the growth of India’s GDP.”
Automation plays a crucial role in helping the manufacturing industry achieve the target of 25 per cent contribution to the GDP from the current 15 per cent.
“If we target 25 per cent, automatically the manufacturing share will increase our global share by four per cent,” Janarthanan said.
“With nearly 250 million people set to be a part of India’s workforce in the next 15 years, manufacturing growth has become an inevitable necessity for large-scale employment,” he added With an increasingly globalised manufacturing environment, Industry 4.0 will become a quintessential part of the manufacturing revolution in India.
“We are too dependent on services sector in India. However, stability of the economy will be defined by the manufacturing sector,” he added.
Smart manufacturing can play an enabling role in connecting the various processes of business enterprises.