“The conventional ways of doing incremental business will no longer suffice, India needs to push its people to adopt disruptive ways of doing business” said Prof Ashutosh Sharma, Secretary, Department of Science and Technology at the 4th CII Smart Manufacturing Summit, held on 26 October 2018 at New Delhi.
Speaking at the Summit, which was attended by more than 300 participants, Prof Sharma emphasized the need for leveraging technologies to create new jobs in the economy. The 4th edition of the Summit brought forward international and national experts from industry, academia, multi-lateral agencies, Government as well representatives from embassies of multiple countries - Germany, UAE, Sweden.
A globally competitive Indian manufacturing sector will be a key enabler in achieving the Hon’ble Prime Minister Shri Narendra Modi’s vision of a USD 5 trillion-dollar economy by 2025. Known to have the largest multiplier effect on economy, the Indian manufacturing sector’s participation across global value chains needs to scale from its current level of 2-3% of merchandize exports to that of comparable manufacturing superpowers like USA, China, Germany, Korea etc and smart manufacturing will be a critical ingredient in achieving these aspirations.