Harnessing automation: India’s next manufacturing leap
Sougandh KM, India Country Manager, Universal Robots
India is recently the most populous country in the world. It has one of the largest markets in the world and is well on its way to becoming a manufacturing powerhouse. Manufacturing exports will reach USD 418 billion in 2022, growing by 40% in one year
national policy support a technology-based economy
The boom in manufacturing growth in India is backed by forward-looking policy makers. A number of national initiatives have been introduced to support the sector, including Create in India, Create for the World and the Production Linked Incentive (PLI) scheme, launched in 2020 to increase manufacturing, self-reliance and export earnings.
Under the PLI scheme, the government provides financial incentives to producers who increase their output in certain sectors such as electronics, pharmaceuticals and automotive. This incentive scheme even supports small and medium enterprises – which account for 30% of GDP – to invest in technology. The public message is clear: technology can and will help industries be more productive.
The country as a whole is undergoing rapid digitization and is keenly aware of the benefits of automation due to the government’s promotion of Digital India and Industry 4.0. In 2021, India ranked 10th globally in new robotic installations. Openness to technology looks set to take manufacturing in the country to a whole new level of productivity.