Our latest report – “India’s Readiness for Industry 4.0 – A focus on Automotive Sector” in association with industry body CII is an attempt to understand the concept of Industry 4.0 with India’s perspective. In light of the dynamic era that we are in today, this new disruptive technology driven phenomenon is inevitable and is likely to change the way industry players/ government look at manufacturing. With the Government’s vision of making India a major automobile manufacturing hub, the opportunities presented by Industry 4.0 is immense and needs to be capitalised.
Key highlights of the report are:
- Industry 4.0 is all about optimisation of smart, flexible supply chains, factories and distribution models where machines capture and convey more data via machine-to-machine communications and to human operators.
- There are around 9 key components of Industry 4.0.
- Industry 4.0 started with Germany and is gaining momentum in the United States, Japan, China, Nordic countries and the United Kingdom
- Automotive industry is one of the pioneers to implement Industry 4.0.
- The automobile sector of India is one of the largest in the world and accounts for over 7.1% of India’s gross domestic product (GDP). It also contributes to nearly 22% of the country’s manufacturing GDP. By 2026, India is expected to be the third largest automotive market by volume in the world.
To capitalise on the opportunity presented, private sector companies have already taken steps to adopt Industry 4.0.