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Significant Growth Opportunities for Industrial Automation in India

Indian firms have realised that how crucial it is for them to integrate technology into their operating processes if they wish to compete with the much larger MNCs in developed nations

Rajiev-LuthraThere is a huge evolution ongoing in the manufacturing industries of India, with the adaptation of industry 4.0, artificial intelligence, IOT, migration to cloud computing softwares and increase in reliance of robotics, pneumatic and hydraulic automation in low-cost applications, the manufacturing and services sector is experiencing a big jump in the industrial output which can be seen taking place in various diversified industrial clusters in India.

India itself is a growing economy thanks to its self-reliance on local production and the manufacturing in India has been soaring new heights since the past couple of years.

Industrial production in India is showing spikes reaching upto 10 – 12% in some months in this year which is way above the standard growth rates of 2.5 – 3.5% which have been persisting since the last 2 – 3 years due to the harsh industrial climate prevailing worldwide.

This indicator is in itself, an indication of a potential burst in industrial output once there is a ongoing stability in the International markets and the taming of the the rate of inflation.

However, in order to sustain development and tap into the untapped potential of the economy, it is necessary to factor in high levels of autonomous production and processes, whether they are accomplished by digital or mechanical methods.

Also, with the assistance of more skilled employees and labour, along with the innovations in technology in the manufacturing processes, there is a huge opportunity for India to become one of the largest exporters of Industrial products and services in the coming years. This opportunity can indeed be found in India’s potential to become one of the largest exporters of Industrial products and services.

With the world trying to find an alternate to the Chinese vendor program which elevated them to be called “the workshop of the world”, there is a reality forming in the international business world to look towards other countries like India, Vietnam, Bangladesh and others for ensuring uninterrupted supply chain support and thus ensuring a predictable outcome to the current uncertainty prevailing due to the political uncertainties between China & its neighbors.

Indian firms have realised that how crucial it is for them to integrate technology into their operating processes if they wish to compete with the much larger MNCs in developed nations that have been following hi-tech integrated processes so for a while.

There are a number of factors that point to the adoption of automation in all industries, and this is expected to increase the industrial output to almost 6.5 – 7% growth yoy from a growth of 2.5 – 3.5%, which has dominated and haunted the manufacturing sector. As a result of these multiple factors, the growth of the industrial automation sector has been speculated to grow immensely in the coming years.

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BiS Team

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