The increasing accessibility to smarter mobility solutions is expected to help better the implementation of Industry 4.0 across India.
30 Mar 2022 | 2904 Views | By Sricharan R
Smart manufacturing and Industry 4.0 is increasingly being seen as one of the seamless ways to make businesses future ready. The increasing accessibility to smarter mobility solutions is expected to help better implementation of Industry 4.0 across India.
However, “only five percent of the companies have adopted Industry 4.0; ...
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Smart manufacturing and Industry 4.0 is increasingly being seen as one of the seamless ways to make businesses future ready. The increasing accessibility to smarter mobility solutions is expected to help better implementation of Industry 4.0 across India.
However, “only five percent of the companies have adopted Industry 4.0; 14 percent have not even kickstarted the process. This means around 81 percent have just been trying out proof of concepts and pilots," said Abhishek Sinha, COO and Board Member of L&t Technology Services. “Companies that are more adaptive, can tackle crises more effectively,” he added.
This was part of his keynote address on Industry 4.0 - The New Normal, at the Autocar Professional's Smart Manufacturing Conclave. Sinha pointed out that the scale and scope of manufacturing has changed rapidly. The automobile industry is becoming increasingly software-driven and the Indian OEMs are investing significantly higher in 4.0 solutions.
“India too is making strides into manufacturing with more on intelligent automation, connectivity and more. The spending accounts for almost 50 percent of the whole annual technology spend. The adoption of the Industry 4.0 solutions in Tier II and III suppliers needs a mindset shift that will help in faster adoption. Also, there is a new player called sustainability,” Sinha explained.
There is a need to have an integrated approach for sustainability, he said. Adding more, he said, “Driving energy management and streamlining distribution are important factors to bring about sustainability. A holistic approach across product elements, supply chain and enterprise across shopfloor are important elements to bring sustainability.”
Connectivity - key enabler
According to the COO, With the advent of connectivity in automotive, cyberthreats are real. He mentioned that the key is security by design. “Industry is bound to adhere to security standards,” he stated.
With the rise of smart cities in India and across the globe, autonomous service will become available and affordable soon, he said. Pool rides, peer to peer car sharing have emerged as new modes of transportation also.
With such newer trends in the market, Sinha stated that there is an emergence of extreme off-shoring of services. The talent in India has made off-shore possible. “Also, we have seen more global OEMs making and manufacturing components in India. Competitions make global OEMs make locally,” he stated.
“There is an increase in R&D spending. Globally, the push towards electrification and semi-autonomous vehicles can be seen. People have so much more access to technology now. According to findings by Kotak Institutional Equities the Indian battery market’s size is expected to grow to $6.7 billion (Rs 51,115 crore) in the next 5 years,” he mentioned.