The manufacturing sector’s potential contribution to GDP and employment makes it of utmost importance for our economy. In order to emerge as a ‘world-class manufacturing hub’, the manufacturing sector will need to embrace Industry 4.0 and use the opportunities that will rapidly, and sometimes unexpectedly, present themselves.
Industry 4.0 has many facets to it, including automation and data exchange in manufacturing technologies, cyber-physical systems, IoT and cloud computing. It creates what can be called a ‘smart factory’, where machinery, storage systems and
production resources can carry out complex tasks, exchanging information and giving instructions to each other, without the need for human involvement.
This report aims to encourage more discussions around the opportunities and challenges facing organisations in this new era in manufacturing, specifically focusing on the Indian manufacturing sector.