Most manufacturers see technology adoption as a vital driver of profitability and competitiveness, but present expenditures are low, with many spending less than 10% of their budgets, according to the Confederation of Indian Industry’s Manufacturing Competitiveness Study.
The research did note, however, that a trend toward more investment—aiming for 11–15 percent of budgets—is anticipated over the next two years, especially in the areas of robots, big data, and the Internet of Things (IoT).
According to the report, there are still issues with legacy system integration, high costs, and unclear return on investment, particularly for small and medium-sized businesses (SMEs).
The research also emphasizes how critical it is to upskill the workforce in order to close the skills gap and facilitate the smooth adoption of cutting-edge technologies.
With an emphasis on the revolutionary effects of smart technology on India’s manufacturing sector, the Confederation of Indian Industry (CII) published the Manufacturing Competitiveness Study.
‘Smart Manufacturing: Unlocking India’s Potential’ is a paper that focuses on the industry’s continuous digital transformation and how important it is to reaching the ambitious target of raising the manufacturing GDP contribution to 25 percent anytime soon.
The paper demonstrates how advanced technologies like automation, robots, artificial intelligence, machine learning, and the Internet of Things (IoT) are changing the manufacturing environment and promoting innovation, optimization, and global competitiveness. While traditional industries like textiles and food processing are slowly moving toward digitalization, high-capital industries like semiconductors, aerospace, and automotive are driving the adoption of these technologies.
In order to overcome these obstacles, the report suggests establishing shared technology hubs through public-private partnerships, boosting technology budgets, enhancing industry-academia cooperation, and putting supportive laws into place to promote smart manufacturing’s wider adoption.
Speaking about the report, Deepak Shetty, Chairman of the Council on Manufacturing Excellence, CII and CEO & Managing Director, JCB India Limited, said, “India’s manufacturing landscape is undergoing a significant transformation, driven by the rapid adoption of innovative technologies.”
Deepak Jain, Co-Chair of the Council on Manufacturing Excellence, CII and Chairman, Lumax Group, said, “This report highlights a transformative moment for India’s manufacturing sector, where advanced technologies are reshaping processes and addressing challenges like supply chain visibility to drive industrial excellence.”
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