Manufacturing sector would contribute 25% of the GDP by the end of 2022

-

The government’s focus on manufacturing through program’s such as ‘Make in India’ and policies such as the National Policy for Advanced Manufacturing, Industry 4.0 could play a key role in boosting the manufacturing sector’s share in the country’s GDP to 25 per cent by 2022 from the current 17 per cent, stated Mahendra Nath Pandey minister for heavy industries and public enterprises at an ASSOCHAM event.

Addressing a virtual conference on 'Global Value Chains - Backward and Forward integration' in the session - Smart manufacturing and Industry 4.0 - Delivering the next generation of manufacturing organized by the ASSOCHAM, Pandey said almost a decade ago, for every ₹1 that the government would spend, only 15 per cent would reach to the ultimate target group due to corruption from the middlemen. 

“These things are not possible now due to digital technology. Even during the challenging Covid times, the government managed to directly credit the accounts of the lakhs of impoverished people with benefits which were aimed for them,” he said.

About the Maadhyam portal, Pandey said the platform would allow investors to identify and apply for various pre-operation clearances needed for starting a business in the country. “This will certainly ease the biggest challenges of multiple stakeholders’ approval and the platform will do away with the need for multiple applications across various departments,” he said.

Vineet Agarwal, president, ASSOCHAM stated that the focus on manufacturing will help India in leveraging its demographic dividend, as the vast youth population of the country can be engaged in the sector. “This mandates a strong skilling focus to enhance employability and reduce the burden on the agricultural industry. However, India would need to strike a balance between emerging technologies and the country’s massive labour force by investing in high technology sectors, as well as in the development of labour-intensive sectors,” he said.

Government Estimates 25% of GDP To Come From Manufacturing Sector
According to Agarwal, Industry 4.0 is likely to create widespread disruptions in the labour market. “The key stakeholders — the government, industry and academy institutions — have to come together to re-think the way education system functions and encourage re-skilling to make employees competitive. The stakeholders need to change the skill map and take remedial actions to accommodate fast-paced technology trends,” he pointed out.

Vinod Pandey chairman, ASSOCHAM Manufacturing and Capital Goods Council and director, government affairs and external affairs, BMW India stated that the acceleration of the fourth Industrial Revolution - Industry 4.0 or Connected Factory – however, holds the power to steer the industry out of the current crisis.

“Breakthrough technologies like Artificial Intelligence (AI), Machine-to-Machine Learning (M2M), Internet of Things (IoT), sensors, and advanced analytics can equip manufacturers with the tools and foresight they need to thrive in the post-COVID-19 world,” he said. The government can also play a crucial role to encourage employment and bridge the skill gaps for the successful implementation of Industry 4.0.

“There is a heightened responsibility for the government in making sure that Industry 4.0 is accessible to the MSME segment – the segment of India Inc. that comprises some 60 million enterprises and contributes to 45 per cent of the country’s total manufacturing output,” Vinod Pandey said.

Chirag Baijal, co-chairman, ASSOCHAM Manufacturing and Capital Goods and Managing Director, Carrier stated that India has overtaken developed countries like the US in the Global Manufacturing Risk Index released recently. “This is an indication of the growing interest in India by manufacturers as a preferred manufacturing hub over other countries including the United States and the manufacturing giant nation, China,” he said.

Kulwin Seehra, chairman, Punjab State Development Council and Executive Director, GNA Axles Ltd informed that government initiatives to popularize digital technology solutions are helping industry recognize the importance of digital capabilities such as Artificial intelligence and Internet of Things. “Both automation and manual labour can work together. In a critical process where there is a huge risk to human life a lot of processes can be automated. This would also help in achieving more productivity,” he said.

Comments

Post a Comment

Popular posts from this blog

Dr Prabhu Set To Score A 'Perfect 10' As Dean Of KMC, Mangaluru

-
Image
He was the first-ever alumnus to become the Dean of Kasturba Medical College (KMC), Mangaluru on December 1, 2011. A little less than a decade to that date and come June 1, Dr  M Venkataraya Prabhu will set a record of sorts to excel all his predecessors – most of whom were his own teachers – to become the longest-serving Dean in the history of KMC, Mangaluru. In 2011, little did Dr Prabhu know that he would emulate his illustrious teachers. June 1 will Dr Prabhu exceed the previous record of late Prof KP Ganesan (9-1/2-years). In reaching here, Dr Prabhu has crossed the  6-year stint by Prof M V Chari,  7-years of Prof M P Pai, 7-1/2-years of Prof  B M Hegde, and 8-1/2 years of Prof GD Veliath, all of whom he reveres. Dr M Venkataraya Prabhu, Dean, KMC, Mangaluru Attributing the greatness and reputation that the college enjoys today to these illustrious teachers, Dr Prabhu also a ttributes his present stature to the founder of KMC Late Dr TMA Pai from whom he receiv...
Read more

Rare celestial Mars Occultation Event Visible Only In India on April 17

-
Image
With the last new moon on April 11, the moon will appear half-lit in the evening sky on April 17 as it follows the sun towards the western horizon. If you observe around 5pm, you will notice a small tiny shining dot very close to the Moon. This is Mars, the red planet. Within a few minutes, the red planet will disappear all of a sudden and appear nowhere in the sky. This is the Lunar occultation of Mars which will be visible for the people of India only.  The moon moves across the sky each night. Being close to the earth, it covers half a degree width in the sky. On this path, there are rare occasions when the moon passes in front of a star and cause occultation which is like a total solar eclipse when the moon covers the object completely and the object disappears for 1-1/2-hours as the moon makes its way across the sky. We see stars appearing to pass behind the moon, disappearing on one and reappearing on the other.  All planets in our solar system move around the Sun in alm...
Read more

Durga Facility's Philanthropic Touch Gives A Clean Edge To Mangaluru City Police

-
Image
Mangaluru City Police received a massive dose of confidence to discharge their duties with city-based Durga Facility Management Services Pvt Ltd, a company specialising in housekeeping and janitorial tasks, coming forward to sanitize all 22 police stations in the police commissionerate. This was the company’s way of thanking the police force who are discharging their duties from these police stations in some very trying and testing times. Office Of DCP (CAR) Being Sanitized B Sachidananda Shetty, CMD of Durga Facility Management Services Pvt Ltd said it was his intention to help the police personnel with this 'clean gesture'. “Ours is a city-based company with pan-India work presence, it was but natural that we expressed our gratitude to the city police force by making their work environment safe,” Sachchidanand Shetty said. The company started the work with police stations in the central sub-division.   Staff Of Durga Facility At Women's Police Station “We will cover the r...
Read more