How India can become a manufacturing powerhouse on world stage
During a conversation at TechSparks Delhi, Mani Vajipeyajula, Co-founder and CEO of Banyan Nation, and Shaurin Patel, Co-founder and CEO of Vexma, discussed India's ascent as a manufacturing giant on the global platform.
India’s substantial 63 million MSMEs predominantly belong to the manufacturing realm. The country takes pride in its manufacturing industry, and through the 'Make in India' initiative, it has begun making strides onto the global platform.
Yet, when one thinks of manufacturing, it's often linked with heavy machinery, strenuous tasks, manual labour, and other traditional aspects that may limit its full capabilities.
The thrilling aspect is this: India is currently undergoing a shift toward a tech-driven evolution. Automation is making significant inroads in the manufacturing sector, paving the way for India to establish itself as a dominant force in manufacturing.
During a conversation at TechSparks Delhi, Mani Vajipeyajula, Co-founder and CEO of Banyan Nation, and Shaurin Patel, Co-founder and CEO of , discussed India's ascent as a manufacturing giant on the global platform.
Transformation in the sector
India's manufacturing ecosystem is changing, says Patel, adding, “Talk about AI, IoT, 3D printing, etc. These are digital manufacturing technologies, called Industry 4.0 and are already adopted in Europe and the US, with an adoption rate of more than 80%. However, in India, there's a need for both government support and dialogue. I don’t see any media other than (YourStory) talking about this,” he quipped.
There is also a need to manage waste, where this sector is one of the highest producers. Vajipeyajula said Banyan Nation has cleaned up 25,000 tonnes of plastic waste in the last three years. He adds that it is a really small number compared to the waste generated in the manufacturing sector.
“A lot of adoption of technologies, be it in the supply chain or on the manufacturing or recycling side, needs to happen now,” he added.
Integrating technologies
Patel illustrated the case of German luxury vehicle manufacturer BMW, highlighting how it leveraged additive manufacturing technology in its production line. Through this innovative digital manufacturing approach— integrating machinery, computer control, and materials—BMW produces 50,000 components annually, significantly enhancing assembly line efficiency and ensuring worker safety.
Additionally, AI plays a pivotal role in quality control, assurance, object tracking, and image vision works to extract key visual features, etc. These technological advancements contribute to heightened efficiency and sustainability in manufacturing. The emerging trend suggests a convergence of these technologies rather than a singular focus, fostering overall growth and advancement in companies.
“Technologies can really catalyse the reduction of raw materials and bring down the cost of circularity,” Vajipeyajula highlighted.
The potential of manufacturing technologies is humungous, said Patel, adding that just like the government is pushing on drones, some kind of push should happen for industry 4.0.
Edited by Suman Singh