We are in the middle of a substantial industrial revolution. This new stage is called Industry 4.0 which emphasis on computerization, interconnectivity, mechanism learning and real-time data. While every industry has different operations and systems, they all face one common challenge – The need for connectedness.
Why should India adopt Industry 4.0?
· To reduce lead time by IoT and connectivity of machine to people
· Progressive analytics will benefit to improve manufacturing capacity and its value.
· To shorten the production cycle and reduce time-to-market
How is India preparing for Industry 4.0?
· According to IBEF, the Government of India plans to increase the contribution of the manufacturing sector to 25% of Gross Domestic Product (GDP) by 2025, from the current level of 16%
· Bengaluru is India’s first smart factory setup. This smart factory is powered by data exchange.
· The heavy industries and public enterprises ministry are facilitating the establishment of four centres in the country to help SMEs implement Industry 4.0
· Andhra Pradesh government aims to turn the state into an Internet of Things (IoT) hub by 2020.
Sectors in India which have adopted Industry 4.0:
- FMCG and Healthcare: Companies in the FMCG and healthcare sector in India have started to adopt to industry 4.0 by deploying collaborative robots in their manufacturing processes.
- Telecom: There are various industry players including Vodafone Business Services that provide smart IoT solutions for connectivity across the range of verticals such as industrial manufacturing, automotive, healthcare, smart city, and utility management.
Strategies for Smart manufacturing
To leverage the best that technology has to offer us, India must embrace Industry 4.0. There needs to be a shift in the mindset and the major strategy to counter lack of skilled labour is to upskill workers and millennials in these fields to create more job.