India is poised to be one of the largest manufacturing economies in the world as Industry 4.0 gains wider acceptance and reshapes manufacturing as a whole, MM Murugappan, Executive Chairman, Murugappa Group, said here on Friday.

Speaking at the 12th National Productivity Summit, a two-day event organised by the Indian Machine Tool Manufacturers’ Association (IMTMA), Murugappan said growth, efficiency and capability are the three principles that the group is striving to achieve in all the business it is engaged in.

“Our goal is to post growth rates higher than the GDP growth rate but I cannot say we are always successful in this attempt,” he added.

(‘Industry 4.0’ refers to the trend of using automation and data exchange in manufacturing technologies.)

Speaking at the event, V Sumantran, Independent Director, UCAL Fuel Systems, said: “Manufacturing is becoming a challenge not (in terms of) productivity but in managing variety along with productivity.”

Citing the example of a customised shoe-making portal, Sumantran said auto manufacturers should emulate the idea and allow buyers to customise their vehicles.

Forecasting the manufacturing sector’s contribution to GDP at 25 per cent by 2022, he said the sector should upscale production to grow by 12-14 per cent annually.

Associations such as IMTMA can facilitate skill development by obtaining support from the government since industries by themselves do not have adequate resources to train all students. “Companies are now looking for attitude and passion to learn (in new recruits),” Sumantran said.

“Summits like these are platforms that address the learning and best practices requirements of the manufacturing industry and raise its competitiveness,” said P Ramadas, President of IMTMA.

The second day of the productivity summit will include innovation case studies presented by different automobile manufacturers and an awards ceremony.

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