Share

Compete the smart way

Share
Event Report

Collaborative approach is the need of the hour for resurgence of manufacturing in India | Manufacturing sector growth is the key to sustained economic growth as it is not just dependent on demand and investments but on solutions and technologies that could enhance operational excellence of a manufacturing facility. So far, in India, the rate of technology adoption has not been uniform due to lack of awareness and cost concerns.

In the current context, with renewed industry confidence and a new, stable government at the centre, the country’s manufacturing prospects and economic growth is expected to get a major boost. With concerted efforts by solution providers,end users have gradually realised the advantages of adopting right products and solutions in order to be competitive in today’s global economy. However, this change may not be fully visible in the short term, but it is important to identify these proactively and engage with end users to have a first mover advantage.

Identification of this and how industry 4.0 will be beneficial to companies was discussed elaborately at Frost & Sullivan’s industrial technologies summit titled ‘Enhancing manufacturing competitiveness:Reality of adopting global trends and technologies in the Indian context.’Presenting his thoughts on the same, Niju V, director, automation & electronics,Frost & Sullivan said, “Most developed and industrialised economies are focusing on the fourth industrial revolution targeting establishment of smart factories, but Indian manufacturers are lagging behind and are trying to catch up.”

Through the course of the summit, the audience and speakers sought answers on what is required for India to become a global manufacturing powerhouse. BR Mehta, senior vice-president, Reliance Industries who was the chief guest at the summit mentioned that users like him were on the same page with consultants like Frost & Sullivan when it came to adopting technology and giving that required impetus to Indian manufacturing.

Highlighting the changing practices and global trends that the manufacturing sector has to imbibe in order to remain relevant in this ever-changing world, Mehta presented his vision for 2025. Following Mehta’s address, other speakers highlighted some of the key challenges faced by Indian manufacturers and deliberated on ways and means of addressing them. The summit witnessed participation of solution providers and solution adopters, who collectively deliberated on the key steps.

Discussions also revolved around the need to leverage innovative technologies and best-in-class solutions to address evolving challenges and prepare better for tomorrow. Ramesh Babu, corporate project manager, Coca Cola gave an interesting presentation on the various innovations done at their plant to encourage sustainability.

He mentioned that some of those initiatives were completely indigenous and were not even done at their global plants.Though the rate of technology adoption is not uniform across sectors in the current scenario, the reality is expected to change with evolving market dynamics and the need for a manufacturing renaissance. With concerted efforts by the industry, end users have gradually realised the advantages of adopting right products and solutions in order to be competitive in today’s global economy. However, this change may not be fully visible in the short term but it is important to identify these proactively and engage with end users to have a first mover advantage.

“Considering the progress and generation leap that India has achieved in sectors like telecom and information technology,we strongly believe that the Indian manufacturing sector has the potential to leap ahead of other leading manufacturing economies and emerge as a global manufacturing powerhouse,” said Niju on a concluding note. Post the Summit, leading companies across different product and solution spaces were felicitated for their best practices in enhancing overall customer value addition at the “2014 Excellence in Industrial Technologies Awards, India”

Newsletter

Most Popular

Digital Edition

May 2019
From the magazine

Subscribe Now