CII, in association with their Knowledge Partner, Roland Berger released a report titled “Next Gen Manufacturing: Industry 4.0” against the backdrop of the ‘2th edition of Manufacturing Excellence Conclave’ organized by CII on 26 September, 2014 at New Delhi.
The report surveys the changing landscape in manufacturing and defines the fourth industrial revolution and industry 4.0. The internet is combining with intelligent machines, production systems and processes to form a sophisticated network akin to a ‘giant information system’. Further, industry 4.0 emphasizes the idea of consistent digitization and linking all productive units in an economy.
The key characteristics of the new industrial landscape is examined and its implications for Indian companies are discussed. The approach for India to take on the industry 4.0 challenge is covered and the risks in implementing industry 4.0 are also described. It is brought out that moving towards industry 4.0 would make it possible to preserve India’s edge in manufacturing and create a sustainable ecosystem that can adapt to large-scale customization.