The Government of India (GOI) is taking certain key steps to increase the manufacturing output from the current 16 per cent to 25 per cent of GDP by 2025.
In addition to a government push, there are other trends that are creating the opportunity for Indian manufacturers to flourish.
Now a days, technology is contributing towards manufacturing industries and helping it to stay pertinent in these changing times. Following are the key trends that can impact the manufacturing industry.
Adopting ‘SMAC Stack’
SMAC – stands for Social, Mobile, Analytics, and Cloud is creating endless possibilities for the Manufacturing industry. For example,
Manufacturers are essentially trying to make their products “smart” by putting various sensors, which connect back to the manufacturers’ cloud. Just as an example, imagine, the sensors in your air conditioner track when it needs servicing and relays that information to you via the manufacturer’s cloud.
Government driven impetus
This impetus is being created in two ways:
Indian Manufacturing is ready for a makeover because India has the necessary manpower, support from GOI via its ‘Make in India’ initiative as well as adoption of SMAC and IOT. The manufacturing industry is expected to grow at a healthy pace as well as modernize towards hi-tech product manufacturing.
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