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

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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.

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