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'Industry 4.0 mandatory to boost manufacturing share'

Updated: Jan 28, 2017 10:57:39am

'Industry 4.0 mandatory to boost manufacturing share'



Visakhapatnam, Jan 28 (KNN) To achieve the desirable stand in the global market, the country needs to focus on using green technologies and best global practices to increase the share of manufacturing in Gross Domestic Product (GDP), says expert.

According to the Managing Director of Hospira Healthcare Srini Srinivasan, to achieve this target, Indian industry has to adopt Industry 4.0 as it is important to boost manufacturing.

He was speaking at a session on 'Industry 4.0: leveraging for efficiency, adaptability, productivity, - what is in it for India' at the Andhra Pradesh investment summit here on Saturday.

Industry 4.0 refers to the current tendency of automation and data exchange in manufacturing technologies.

During the course of session, DIPP Secretary Ramesh Abhishek said that to adopt 'Industry 4.0', India Inc has to adopt best global practices of manufacturing and it also requires investments.

According to the secretary, ease of doing business is also critical for Industry 4.0 government along with states are working on this.

The other areas which need special focus include, good quality products, alignment of jobs, skilling, perfect supply chain, innovation.

'Industry 4.0' or the fourth industrial revolution integrates the digital and manufacturing world, as per experts. 

Siemens Ltd MD and CEO Sunil Mathur said that in India, industry has to move from electrified to digitalized machines.

As per Tata Chemicals MD R Mukundan, skill development is the key to move forward as lack of skill lead to huge amount of job losses. For this, he said, there is a need to focus on supply chain. (Source: PTI)




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