Tech’s Still A Strange Word For Manufacturers Here

Over 62% of Indian manufacturers, including those in labour-intensive sectors like automotive, industrial goods and heavy manufacturing, are still at the third industrial revolution in terms of technology and want to exhaust low-cost options rather than implementing high-cost technology that automates functions, a study by management consulting firm, Russell Reynolds Associates found. Here’s why Indian manufacturers want to take their time to adapt to ‘Industry 4.0’.

Industry 4.0 represents a combination of:

• Cloud
• IoT
• Robotics
• Augmented reality
• Additive manufacturing
• Big data & analytics
• Cybersecurity

Key reasons for slow adoption

• Paucity of talent
• Difference in tech adoption between vendors and manufacturers
• Complex government interfaces
• Abundance of cheap labour overshadowing
• Cost of smart connected devices―India Finance News