DeepTech implementation fostering growth in the manufacturing industry – Digital Transformation News

By Avi Dahiya

In the coming decade, India is set to emerge not only as the world’s fastest-growing economy but also as a leader in shaping a sustainable global future. Prime Minister Narendra Modi’s vision encompasses the transformation of India into a prominent global manufacturing hub, a journey brimming with promise and potential. As India embarks on this manufacturing evolution, it becomes crucial to understand the challenges that lie ahead and, notably, how the infusion of technology can serve as a catalyst, propelling India toward the realization of its ambition as a globally acclaimed manufacturing powerhouse.

The Industry’s Evolution: Industry 4.0 and Beyond

The Indian manufacturing landscape is at an exciting juncture, embracing the transformative potential of Industry 4.0, often referred to as the ‘Fourth Industrial Revolution.’ This paradigm shift is marked by the seamless integration of new-age technologies like artificial intelligence (AI), the Internet of Things (IoT), and automation into various aspects of manufacturing. While India is steadily progressing in adopting these technologies, a recent NASSCOM report highlights significant investments, ranging from $5.5 to $6.5 billion, made by the Indian manufacturing industry in Industry 4.0 solutions during the 2020-21 fiscal year. This underlines India’s commitment to leveraging digital transformation for a connected and competitive future.

Challenges Posed to Indian Manufacturing

Despite development, the Indian manufacturing industry grapples with diverse demanding situations. One of the major hurdles is the need to enhance cost-efficiency. Labor-extensive operations and outdated manufacturing approaches are hampering cost-efficiency, making it tough for Indian manufacturers to compete effectively within the worldwide market.

Another major problem this industry faces is low adoption of technology. Yet many manufacturing plants still operate relying on traditional, non-automated ways causing low productivity, high cost of production, and errors. This failure of technological integration stifles growth prospects in the manufacturing industry and makes it difficult for the industry to address changing client demands. According to a survey by PwC India, 54% of Indian manufacturing companies are actively implementing analytics and AI for business functions, showcasing progress in adopting tech solutions. However, a significant 38% of companies have no plans to adopt digital technology for their businesses, reflecting a digital divide that needs urgent attention.

Besides, many Indian production units still depend upon outdated and energy-intensive machinery which increases operational charges and contributes to environmental issues.

One solution emerges— “DeepTech Implementation”

As DeepTech becomes more prominent, India is becoming a vital technological innovation hub. Government programs such as the Atal Innovation Mission, Niti Aayog, and Startup India are encouraging the establishment of accelerators and incubators to develop DeepTech breakthroughs. Deep technology is moving from an option to a requirement in a variety of industries, including healthcare, education, industrial manufacturing, and others.

DeepTech has swiftly evolved from an option to a necessity across industries, including healthcare, education, and industrial manufacturing. In the manufacturing sector, where operational efficiency reigns supreme, these ecosystems are indispensable. One groundbreaking facet of DeepTech is digital twin technology, poised to revolutionize India’s manufacturing landscape. These virtual replicas of physical facilities offer real-time insights, enabling predictive maintenance, smart manufacturing, AI-driven quality control, and blockchain-powered supply chain optimization. Additionally, digital twins empower precise product customization, promising to elevate efficiency and competitiveness in Indian manufacturing.

The Way Forward

DeepTech implementation will push forward as the harbinger of the future in the dynamic world of technical discoveries, its influence spreading like a flame. Almost every element of smart manufacturing will appear ripe for disruption as it develops mainstream. Manufacturers will be able to accelerate their operations to resounding success by embracing the potential of DeepTech, ensuring an increase in return on investment while enhancing production efficiency. 

The author is founder, CEO, Twyn

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