Make in India: Placing ‘Industry 4.0’ in Context

March 11, 2015 11:48 am

With an increasingly globalised manufacturing environment, it is expected that Industry 4.0 must form a key part of the intellectual debate driving the “Make in India” initiative
 The Indian manufacturing landscape contributes around 16 per cent of India’s GDP each year and less than 2 per cent of the overall global manufacturing output. Furthermore, this sector employs around 58-60 million people which is just about 12 per cent of the overall working populace. With nearly 250 million people set to enter the workforce in the next 15 years, the Indian manufacturing scene is expected to undergo a massive revamp in terms of investment, infrastructure, and technology. Taking stock of the issue at hand, the Indian Government embarked on a strategic initiative to resurrect the declining manufacturing industry in the country.
Under the new “Make in India” initiative, the government has laid out new policy initiatives that aspire to expand the economy’s manufacturing footprint comprehensively. This includes focus on an extensive list of discrete industries for growth in the coming years. Some of the strategic goals of this new program include enhancing job opportunities, minimising imports, expanding exports and last, but not the least, creating a conducive environment for technological evolution.
However, Frost & Sullivan study reveals, if companies and value-chain participants appreciate the benefits of ‘Industry 4.0’ and adapt to the changes, then radical transformations in the competitive landscape can be expected. Industry 4.0 is a platform that enables the unification of information amongst participants in the entire value chain – from product inception to design, manufacturing, services, and even refurbishment.

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