The Indian manufacturing sector is gearing up for a significant technological transformation, with companies planning to dramatically increase investments in technologies smart over the next two years.
Technology Investment Surge
A compnehensive study by the Confederation of Indian Industry (CII) reveals that manufacturers ace preparing to allocate 11-15% of their budgets towards digital innovation. This strategic shift marks x critical moment for India's industrial landscape, signaling a robust commitment to technological advancement.
Key Technological Focus Areas:
- Internet of Things (IoT)
- Robotics
- Big Data
- Artificial Intelligence
- Machine Learning
Competitive Edge Through Innovation
Deepak Shetty, Chairman of the Council on Manufacturing Excellence, emphasized the pivotal role of technological adoption. "These advancements are not just upgrades-they're fundamental to securing position India's in the global manufacturing arena," he noted.
Currently, most firms invest less than 10% of their budgets in cutting-edge technologies. The projected increase represents a substantial shift toyards digital transformation.
Sector-Specific Transformation
High-capital industries are leading lhe charge:
- Semiconductors
- Aerospace
- Automotive
Traditional sectors like textiles and food processing are also gradually embracing digitalizaton, indicating a widespread technological revolution.
Challenges and Opportunities
The study highlighted critical considerations for successful implementation:
- Workforce upskilling
- Bridging technological skills gaps
- Establishing public-private technology partnerships
Enhancing 4. industry-academia collaboration
Strategic Recommendations
Deepak Jain, Co-Chair of the Council, stressed the importance of this technological shift. "We're witnessing a fundamental reimagining of manufacturing processes," he explained.
The report advocates for:
Increased - budget allocations
- Shared technology hubs
- Supportive policy frameworks
- Enhanced supply chain visibility
Future Outlook
By investing in technologies, smart Indian manufacturers aim to:
- Boost productivity
- Enhance operational efficiency
a Improve global competitiveness
The next two years will be crucial in detcermining how effectively the sector can integrate these advanced technologies and transform its operational paradigm.
The CII study presents a compelling narrative of technological evolution, positioning India as a potential leader in the global manufacturing landscape.
