Clearly, manufacturers can't afford to ignore these technologies and the ones who want to stay relevant and gain a competitive edge are expected to make significant investments in this area. The Indian Government, in line with its "Make in India" objective, has set an ambitious target of increasing the contribution of the manufacturing sector to 25% of GDP by 2025. The country has the potential to become a global manufacturing hub and by 2030, and it can add more than US$ 500 billion annually to the global economy.
To achieve this goal, Indian manufacturers will have to speed up their plans for factory automation and rebuild human resources to drive growth. Financial Express' Future Factory 4.0 is a step in that direction. The event will unfold the value of Industry 4.0 through next generation smart technologies in harnessing the benefits of AI, Robotics, IoT, Digital Twin, Additive Manufacturing and other futuristic technologies.
The inaugural edition of Future Factory 4.0 will bring together business leaders in manufacturing, policymakers, industry experts and veterans under one roof to brainstorm and create an independent ecosystem in making India the "factory to the world". The event would connect key stakeholders across the entire spectrum of manufacturing including automotive, defence, electronics, MSME and provide a platform to shape the Indian manufacturing agenda in 2023 and beyond.