India's manufacturing landscape, particularly in the automotive and electronics industries, has advanced rapidly over the past decade. This growth is driven by supportive policies and increasing domestic demand. According to a report by India Brand Equity Foundation, the country has the potential to establish itself as a global manufacturing hub, contributing over US$500 billion annually to the global economy by 2030.
A key imperative to achieving this goal is investing in Industry 5.0: building smart factories that rely on connectivity and data-driven decisionmaking. This 'fifth instalment' of industrialisation represents a shift towards smarter, more personalised, and human-centric manufacturing. It is based on collaboration between humans and advanced technologies, including AI, robotics, and IoT, to create more sustainable, efficient, and adaptable production processes. With the industry transformation spurred by generative AI (GenAI), this human-machine partnership is becoming a reality as more manufacturers integrate emerging technologies, such as blockchain, into their operations, driving innovation and productivity forward.
OVERCOMING CHALLENGES IN MANUFACTURING
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