Manufacturing sector is a key pillar of the Indian economy with immense future potential. Government’s focus and initiatives such as “Make in India” and “Digital India”, have aided in the growth of the sector. The COVID-19 pandemic has also helped in amplifying India’s potential as an attractive manufacturing destination for global companies exploring newer production hubs. The Country received $20 bn investments during lockdown period, and led to 20% growth in FDI compared to last year.
Adoption of Digital technologies in the manufacturing industry is rapidly increasing with investments around Cloud computing, IOT, AI, AR, Deep Learning, Robotics, 3D Printing etc. The growth momentum in the sector will further propel the adoption of the Modern tech and the advancement towards Industry 4.0. This transformation has also created opportunities for future collaboration with tech start-ups and digital technology providers.
Digital technology adoption is not just restricted to large manufacturing companies, but also witnessed in the MSME (Micro-small medium business units) as well.
