With the recent elections securing a win for Government 3.0 under the leadership of Prime Minister Modi, India's strategic drive to position itself as the world's manufacturing epicentre is expected to gain ground. India is emerging as a formidable contender for the China+1 strategy, capitalising on a unique convergence of factors. But India is still grappling with critical policy gaps in its industrial strategy, compounded by a looming skill deficit. According to World Bank data, less than three per cent of global manufacturing currently occurs in the world's most populous country, a stark comparison to China's commanding 24 per cent share.
In alignment with its ambitious vision, the Indian government aims to augment the nation's share of global manufacturing to five per cent by 2030, with a loftier goal of 10 per cent by 2047. This aspiration underscores India's desire to solidify its status as an indispensable player in the global economic landscape. India's ascension as the world's fastest-growing major economy, buoyed by a burgeoning tech sector, is undeniable. However, juxtaposed with this economic dynamism is a traditional economy struggling to generate sufficient employment opportunities. The confluence of these dynamics presents both promise and peril, encapsulating the essence of the three Ds: de-risking, diversifying, and decoupling. In the wake of a reordering geopolitical situation with far-reaching ramifications on the geo-economic landscape, the imperative for derisking, diversifying, and decoupling has assumed paramount importance. Today, pursuing a China+1 strategy reflects a broader global sentiment favouring a strategic pivot away from over-reliance on a single country and supplier. However, strong policies and a skilled workforce are needed to further this momentum.
SKILL DEFICIT: A HURDLE ON INDIA'S PATH TO MANUFACTURING PROGRESS
هذه القصة مأخوذة من طبعة August 2024 من The Machinist.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة August 2024 من The Machinist.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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IGUS'S NEW ONLINE CONFIGURATOR FOR CUSTOM ROTARY ENERGY SUPPLY SYSTEMS
igus, the motion plastics specialist, now offers a rotation module online configurator that allows engineers to design, and order customised rotary energy supply systems in seconds.
WE CONSISTENTLY INVEST IN ADVANCED TECHNOLOGIES LIKE AUTOMATION, ROBOTICS, DIGITALISATION, AND SIMULATION
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CCMS ENABLES REAL-TIME COLLISION DETECTION, ACTIVATING AIRBAGS AND EMERGENCY BRAKING
Mohan Babu University initiated the Continuous Collision Monitoring System CCMS) project, led by Prof. N. Harathi and students, to enhance safety technologies and provide hands-on experience with piezoelectric sensors, bridging education and industry needs. In an exclusive interaction with Nisha Shukla, Prof. Harathi discusses the project’s motivations, goals, market readiness, and challenges.
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POWERING INDUSTRIAL AUTOMATION ACROSS INDUSTRIES
Industrial automation has transformed production by providing precision and efficiency across various sectors. This article explores how Inovance Technology's solutions are revolutionising the manufacturing, energy, and transportation sectors with innovative products that enhance productivity and sustainability.
HOW FREE TRADE WAREHOUSING ZONES ARE BOOSTING INDIA'S ECONOMIC LANDSCAPE?
In an exclusive interaction, Ranjit Ray, Vice President Economic Zones, Middle East, North Africa, and Subcontinent, DP World, delves into the benefits and challenges associated with Free Trade Warehousing Zones FT WZs) in India, focusing on how they enhance global trade, streamline logistics, and provide unique advantages to various industries.
UNLOCKING THE POWER OF AI IN RECRUITMENT AND STAFFING FOR THE MANUFACTURING INDUSTRY
The author emphasises AI’s significant role in optimising hiring and workforce management in manufacturing industry; while also cautioning about potential challenges these technologies may bring to the sector.
OUR PARTNERSHIPS WITH UAE GOVT ENTITIES FOSTER A COMPETITIVE MANUFACTURING AND LOGISTICS ECOSYSTEM
For over two decades, Dubai Industrial City has been a key driver of innovation and sustainability in the region's manufacturing and logistics sectors. Ina discussion with Nisha Shukla, Saud Abu Alshawareb, Executive Vice President Industrial at TECOM Group PJSC delves into Dubai Industrial City’s cutting-edge infrastructure, its support for smart manufacturing under Industry 4.0, and the strategic partnerships that enable businesses to innovate and expand globally.
DRIVING INNOVATION, SUSTAINABILITY, AND THE FUTURE OF MOBILITY
The 8th Global Conference on Plastics in Automotive, held in Pune, concluded on a high note, offering the industry actionable insights and thought-provoking discussions.
