India Focus to Prosper Open Manufacturing Initiatives
Published by : Industrial Automation
Considering the post-pandemic economic scenario and the Industry 4.0 movement are expected to influence the open manufacturing initiatives around the world. These initiatives are based to focus on factory modernization and the adoption of industry 4.0 to accelerate the business operations and further strengthen the local manufacturing capability. This expected to achieve the goal of holistic and adaptive automation system architectures from the automation provider companies.
The framework of open manufacturing is based on sustained competitiveness and flexibility to the dynamic technological growth, which can be fulfilled and carried through the innovation and development of advanced automation technologies such as robotics, telematics, wireless applications, remote testing, and remote diagnostics, to enable a successful transition.
“Industry 4.0 initiative from Germany created kiosk and influence the other users to make cooperative efforts in other countries, including China, Japan, and India to adopt automated technologies”
Open Manufacturing Initiative in the Indian Market
The Asian manufacturing sector is the largest marketplace in the global market. In addition to that, India is the main contributor to the Asian manufacturing sector in the past few years owing to its “Make in India” initiative in 2014 and the “Innovation Challenge” in 2020. These countries are proactively focused on new initiatives to take advantage to enhance the economic scenario post-pandemic due to the outburst of the COVID-19 virus.
Make in India – The initiative launches by the Government of India (GoI) in 2014 and it covers over 25 sectors dedicated to the manufacturing sector of India. The initiative was aimed to influence or encourage the Indian companies to formulate their advanced manufacturing power to strengthen the home production and further powers the local economy. Also, it is the focus to provide the support and scope for the small and large companies to initiate and develop advance diversified manufacturing capabilities along with the upgrade of technologies. Simultaneously, the government is investing high amounts in infrastructure modernization in tier 1, 2, and 3 cities of the country.
Considering the strategic expansion of the government through the “make in India” initiative, they will add new jobs, skills development, diversification in the product in manufacturing, limited dependency on foreign trades, expanding export capabilities, and most importantly strengthening the Indian economy.
In the investment area, the government already allocated in terms of commitments of more than USD 230 billion, which leads the market position of India in the global market. In 2015, the government analysts stated that India emerged as the leading destination point in the world for foreign direct investment (FDI), better the US and China, with the investment amount nearly to USD 60.1 billion under the scheme.
The allocation of high funds and easiness in the FDI policies is expected to increase the global manufacturing companies to invest in the Indian market and lead the initiative of “Make in India”. Moreover, the direct involvement of the Indian government, infrastructure modernization, and digitalization further influence the production in India and further powers the Indian economy in the global market. Along with the growth in the trend of automation to adopt in fast manufacturing are expected to further lead the better Industry 4.0 based manufacturing in the domestic market in the coming years