91 pc Indian manufacturers expect digitalisation to fuel growth in 2024: Report

by IANS |

New Delhi, April 2 (IANS) About 91 per cent of Indian manufacturers expect digitalisation to fuel growth, quality control, and risk management in 2024, a new report said on Tuesday.

According to the US-based provider of industrial automation and digital transformation technologies Rockwell Automation, Indian manufacturers recognised the need for digitisation, driven by both internal imperatives -- such as the delicate balance between quality and growth, adoption and integration of new technologies, retention of skilled workers, product quality improvement and client onboarding.

"The report reveals that Indian manufacturing is rapidly evolving and is investing in smart manufacturing technologies to achieve growth, address workforce issues, improve quality control, mitigate cyber risks, and attain sustainability," said Dilip Sawhney, MD, Rockwell Automation India.

"A wider adoption of digital transformation is crucial for India to become a trillion-dollar manufacturing economy -- a vision of the government of India under the Make in India initiative," he added.

The report surveyed over 1,500 manufacturers across 17 of the leading manufacturing countries, including India.

Additionally, the report mentioned that Indian manufacturers are actively improving their network infrastructure and leveraging the multitude of connected hardware devices.

Networking hardware, with an adoption rate of 88 per cent, and production monitoring software solutions, with an adoption rate of 92 per cent, lead the way in technology adoption across various industries in India, according to the report.

Globally, artificial intelligence (AI) ranked as the top capability that manufacturers believe will drive the biggest business outcomes.

About 83 per cent of manufacturers expect to use generative AI (GenAI) in their operations in 2024.

Around 94 per cent of manufacturers plan to maintain or grow their workforce due to smart manufacturing technology adoption, with a heavy focus on repurposing workers to new or different roles or hiring more workers.

Latest News
Karnataka Congress stages empty pot protest in Bengaluru against Centre Sat, Apr 20, 2024, 04:27 PM
Iranian foreign minister in New York: Ease Middle East tensions Sat, Apr 20, 2024, 04:26 PM
HK, Singapore food regulators red flag 'cancer-causing' ingredient in certain MDH, Everest spices Sat, Apr 20, 2024, 04:13 PM
Gujarat contributes over 8.3% to national GDP: FM Sitharaman Sat, Apr 20, 2024, 04:12 PM
Turkey's President Erdogan to meet Hamas chief in Istanbul Sat, Apr 20, 2024, 04:11 PM
HDFC Bank posts Rs 16,511 crore net profit in Q4, declares dividend of Rs 19.5 per share Sat, Apr 20, 2024, 04:03 PM
Constituency watch: Massive MPLAD spending by MP keeps BJP ahead in Bankura Sat, Apr 20, 2024, 03:58 PM
Iraq: One dead, 8 injured in blast at pro-Iran militia's facility Sat, Apr 20, 2024, 03:47 PM
Reunited with family, 95-yr-old great grandma from Bihar seeks to cast vote Sat, Apr 20, 2024, 03:45 PM
Delhi court reserves order on Sisodia's regular bail pleas; he withdraws interim plea to campaign for LS polls Sat, Apr 20, 2024, 03:18 PM
Viksit Bharat Ambassador meet-up: India will be among world's top 3 economies by 2027-28, says Hardeep Singh Puri Sat, Apr 20, 2024, 03:16 PM
Man reported dead after self immolation near court during ex-US Prez Trump's trial Sat, Apr 20, 2024, 03:15 PM
Formula 1: Verstappen on pole for Chinese Grand Prix, Hamilton to start at 18th position Sat, Apr 20, 2024, 03:14 PM
Athletics: US quartet breaks distance medley relay world record in Eugene Sat, Apr 20, 2024, 03:13 PM
Golf: Field announced for 2024 China Open as DP World Tour returns to Shenzhen Sat, Apr 20, 2024, 02:03 PM