Confederation of Indian Industry (CII) Andhra Pradesh unit chairman J.S.R.K. Prasad has said in today’s Industry 4.0 era and disruptive technologies calling the shots, new opportunities are emerging for companies to engage customers, empower employees, optimise operations and transform products.
He was speaking at conference conducted by CII on ‘Manufacturing focussing on Industry 4.0 and Make in Andhra Pradesh’ here on Saturday.
He said businesses must change to survive to capitalise on these strategies.
CII A.P. Industry 4.0 Programme convener Neeraj Sarda said Industry 4.0 had highly intelligent connected systems that create a fully digital value chain.
He gave an overview of how the industry 4.0 revolution started.
Manufacturing startups
Mr. Sarda stated that it was equally important to focus on manufacturing startups. Today the manufacturing startups were driving innovation and widening the frontiers of the industry by opening new avenues for growth in the country. Indian entrepreneurs were going beyond app-based businesses and creating innovative products using robotics and artificial intelligence, big data and analytics.
With more than 4,750 startups, India had the third-largest startup ecosystem in the world, he said.
Lead convener of CII A.P. Industry 4.0 D. Ramakrishna gave a detailed presentation on smart manufacturing.
Value creation
He said industry 4.0 was built on Internet of Things. He said creating value was the biggest challenge and decisions were driven by data. Sri City Pvt. Ltd president Satish Kamat spoke about the ecosystem provided by them to attract investments.
Andhra University Vice-Chancellor G. Nageswara Rao, CII Vizag zone chairman D. Tirupati Raju, Persistent Systems associate vice-president (government business) Praveen Sinha, Gerdau Steel India managing director Sridhar Krishnamoorthy, Wipro global practice head, digital, manufacturing and technology S.B.U. Sivakumar Natarajan and others spoke.
