Bengaluru, July 2022 – On the occasion of World MSME Day, the Manufacturing Working Group of the IET Future Tech Panel initiated a special video series on Industry 4.0 for MSMEs. The five-part video series will benefit MSMEs in India by enabling them to adopt Industry 4.0 and Smart Manufacturing technologies for real business impact.
The thought leadership series will further the vision of IET’s think tank on the future of technology – the IET Future Tech Panel, an independent and neutral visionary think-tank led by prominent industry experts. The panel envisions adoption of futuristic technologies by supporting policy makers as well as key industry stakeholders; bringing together practitioners and future-tech enablers to work together and create a platform that is industry efficient as well as robust. The panel furthers the IET India’s vision of inspiring, informing and influencing the global engineering community to engineer a better world.
The video series will contribute towards engineering a digital future for India’s MSMEs through expert opinions, research-backed findings and practical tips for technology implementation and adoption. Additionally, the panel has also developed a series of whitepapers as part of their efforts to drive digital transformation in India’s MSME sector.
The IET’s video series on Industry 4.0 for MSMEs
In view of India’s Aatma Nirbhar Bharat Abhiyan, this video series will contribute to making our nation self-reliant and globally competent in our manufacturing operations. The primary industries of focus are Automotive Manufacturing, Food Processing, Electronics and Textiles.
Mr Purnendu Sinha, Chair, Manufacturing Working Group, IET Future Tech Panel says, ‘Most MSMEs in India have a view that digital transformation is only for large Indian and/or multinational enterprises. There is widespread misconception that it is expensive and a good-to-have, not a necessity, this initiative is part of our concerted efforts to generate content and research that inspires and informs India’s MSME manufacturing sector, as we strongly believe that the full benefit of Industry 4.0 in manufacturing can only be realised if the complete value-chain and production ecosystem are transformed.”
Today, there is a need for effective and cost-efficient catalysts in the manufacturing industry to accelerate growth and productivity, especially among MSMEs. This video series can aid MSMEs with decision-making processes involved in smart manufacturing technologies. By putting forth examples of use-cases that have actively contributed to the improvement of performances in many factories, the IET aims to speed up the adoption of smart manufacturing technologies across industries.
“The video series features experts from the Manufacturing Working Group of the IET Future Tech Panel and provides solutions to challenges in the manufacturing sector. The implementation of the same can help MSMEs to witness growth and also stay updated and competent in their respective fields,” says Sinha.
India is undergoing a massive wave of digital transformation, with most industries dramatically increasing spends, infrastructure and efforts towards Industry 4.0 adoption. However, a significant digital transformation gap exists in India’s MSME sector, a significant contributor to India’s economy. Through this video series, the IET aims to offer MSMEs a clear adoption path for Industry 4.0 by highlighting step-by-step implementation pipelines and bridging the awareness gap with respect to digital transformation technologies. This in turn will enable MSMEs to transform manufacturing and operational processes in such a way that manual interventions become redundant, customer experience is improved, and employee convenience is enhanced.