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Insights from the DPIIT Secretary’s Dialogue at ZETWERK Smart Manufacturing Summit 2024

The Managing Editor of CNBC-TV18, Ms. Shereen Bhan, engaged in a detailed conversation with Mr. Rajesh K Singh, the Secretary of DPIIT (Department for Promotion of Industry and Internal Trade) at the ZETWERK Smart Manufacturing Summit 2024, exploring the performance and prospects of the “Make in India” initiative over the past decade. In this in-depth analysis, we look at the takeaways from their dialogue and the strategic roadmap outlined by Mr. Singh for the future of manufacturing in India.

Decade of Make in India: A Retrospective

The “Make in India” initiative, launched in 2014, aimed to foster a conducive environment for business, boost manufacturing, and enhance India’s global competitiveness. Mr. Singh highlighted pivotal initiatives like the “Vocal for Local” campaign, ease of doing business rankings for states, logistics improvements, and liberalization of FDI policies as foundational pillars of this journey.

Assessment of Performance

Mr. Singh assessed the performance of the Production-Linked Incentive (PLI) schemes, indicating significant achievements in sectors like electronics, mobile manufacturing, food processing, white goods, and pharmaceuticals. However, sectors like textiles and steel require further enhancements and flexibility to meet initial targets.

Future Prospects and Policy Focus

Looking ahead, Mr. Singh emphasized the need for sustained growth and outlined key focus areas:

1. FDI Liberalization: The DPIIT aims to make FDI policies more liberal, potentially making them 100% automatic across sectors to attract more investments.
2. Ease of Doing Business: Addressing challenges in contract compliances and property titles, especially in digitizing land records and streamlining judicial processes, remains a priority.
3. Export Orientation: Aligning policies to encourage manufacturing for both domestic consumption and exports, focusing on reducing tariff barriers, especially in sectors where India faces stiff competition from countries like Vietnam.
4. Quality Control and Compliance: Strengthening quality control norms and compliance mechanisms, particularly in emerging sectors like fintech and electric vehicles, to foster consumer trust and global competitiveness.
5. Start-up Ecosystem: Encouraging innovation and prudent financial management within the start-up ecosystem, ensuring a balance between risk-taking and compliance.

Challenges and Opportunities

The conversation also touched on challenges such as geopolitical factors impacting FDI, complexities in regulatory compliance for fintech, and the evolving landscape of electric vehicles. Mr. Singh acknowledged the need for nuanced policies and balancing domestic manufacturing with global competitiveness.

Post-Election Roadmap

With an upcoming election, Mr. Singh hinted at a potential surge in policy reforms post-election, focusing on continuity with increased scale and speed. He underscored the importance of collaborative efforts between central and state governments, industry stakeholders, and regulatory bodies to drive sustainable growth in manufacturing and exports.

Conclusion

As India navigates the evolving dynamics of global trade, technological advancements, and geopolitical shifts, the Make in India initiative stands poised for transformative growth. The insights shared by Mr. Singh provide a roadmap for policymakers, businesses, and investors, emphasizing the need for agility, innovation, and strategic policy interventions to realize India’s vision of becoming a global manufacturing hub.

The Game-Changers Behind India’s Manufacturing Revolution!

In India, two IIT graduates disrupted manufacturing with innovation. Amrit Acharya and Srinath Ramakkrushnan, the co-founders of ZETWERK, embarked on a mission to propel India amongst the global manufacturing elite. In an exclusive dialogue with Shereen Bhan, CNBC TV-18’s Managing Editor, Srinath, and Amrit reveal the genesis of their venture and what propelled them forward. 

Breaking Norms and Challenging Conventions

ZETWERK’s seeds were planted almost six years ago focusing on revolutionizing the capital equipment sector. Srinath explains, “We honed in on a singular sector… addressing the challenge of predictability or reliability for the customer.” This single-minded approach bore fruit, laying a sturdy groundwork for their subsequent expansion into diverse industrial domains.

Reflecting on their decision to depart from cushy corporate roles in the United States, Amrit explains the driving force behind their resolve. “We are deeply passionate about the problem statement. How do we transform India into a manufacturing superpower?” he said, highlighting their dedication to this endeavor.

The Journey of Resilience

The journey from niche specialization to expansive diversification wasn’t without challenges. However, fueled by the pursuit of excellence and an understanding of market dynamics, ZETWERK surged ahead. Amrit emphasizes that the COVID-19 pandemic was a catalyst for the paradigm shift in global supply chains. “COVID exposed two critical vulnerabilities: the fragility of supply chains and overreliance on a single source, predominantly China,” he reflects.

Beyond financial metrics, ZETWERK’s ascent reflects a broader narrative of India’s manufacturing resurgence. As the nation embraces import substitution and incentivizes domestic production, entrepreneurs like Srinath and Amrit lead the charge in this transformative journey. With a burgeoning domestic demand and a vast talent pool, India has emerged as a formidable contender on the global manufacturing stage.

From Niche Specialization to Global Dominance

As ZETWERK’s reach extends across over twenty sectors, including the pivotal U.S. market, the magnitude of its achievements becomes evident. From a “zero” U.S. presence to a formidable 25% contribution to revenues, their trajectory is plotted by seizing opportunities and held on course by resilience and adaptability. Srinath attributes this meteoric rise to strategic foresight and a commitment to excellence.

Amrit articulates a compelling vision of India’s potential, where innovation and collaboration yield exponential outcomes. “We possess the talent, fostering density… how can we create a scenario where 1 + 1 equals 10?” he posits, encapsulating the essence of ZETWERK’s ethos.

Growth, Profitability, and Investment 

ZETWERK is marching on an ambitious course towards the Rs. 20,000 crore revenue milestone, and their saga is the stuff of the indomitable spirit of Indian entrepreneurship and the boundless possibilities awaiting those who dare to dream. ZETWERK embodies the spirit of an India that will redraw the contours of global manufacturing in the 21st century.

ZETWERK has emerged as a beacon of innovation and resilience, reshaping the manufacturing landscape with boldness and foresight. With revenues poised to touch the 18,000 crore mark this year, ZETWERK’s trajectory reflects the sheer magnitude of growth and the nuanced evolution towards diversification and sustainability. “We are cultivating a mindset of compounding for the long term,” affirms Srinath, underscoring the company’s commitment to enduring success.

For Amrit, profitability has been a cornerstone since ZETWERK’s inception. Yet, as the company embarks on a new phase of CapEx investments, transitioning from an asset-light model to tangible asset creation, new challenges and opportunities present themselves regularly. “We see a lot of opportunities to invest,” Amrit says, signaling a strategic departure towards backward integration and ecosystem creation. Amidst the influx of capital and marquee investments, ZETWERK is staying on course, leveraging profitability as a springboard for sustained growth and impact. With a long runway ahead and a bold vision for the future, they are challenging conventions and redefining paradigms.

Blueprint for Success: Future Gazing

As India and the world see increased consumption of consumer electronics, ZETWERK’s foray into manufacturing for that sector symbolizes an inevitable shift toward self-sufficiency and innovation. As the government champions the Atmanirbhar Bharat initiative, ZETWERK is positioning itself at the vanguard of this narrative to catalyze India’s emergence as a global manufacturing hub. Reflecting on the company’s evolution, Srinath acknowledges the complexities of transitioning from horizontal diversification to focused growth. Yet, with all the trials and tribulations, ZETWERK has armed itself with invaluable insights and a sense of purpose.

ZETWERK’s strategic imperatives are zeroing in on agility and strategic foresight. “We decided that we would need to taper down our focus across a whole bunch of different sectors and on specific engines of growth,” acknowledges Amrit, emphasizing the company’s pivot towards high-growth sectors such as aerospace and electronics. With a keen eye for adjacencies and untapped potential, ZETWERK transcends conventional boundaries, redefining the market and unlocking new avenues for growth.

For Amrit and Srinath, the solar opportunity looms large on the horizon, propelled by ambitious government schemes and policy interventions. “India has decided fairly early that we’re betting our future on solar,” affirms Amrit, underscoring ZETWERK’s role in helping India’s transition towards renewable energy. Committed to innovation and efficiency, ZETWERK is taking the lead to propel India toward a 40 GW solar market.

Yet, amidst the winds of change and burgeoning opportunities, challenges abound. Srinath highlights the critical need for policy interventions to address the credit gap plaguing MSMEs, stressing the role of access to working capital in fueling exponential growth. “Exports are the next wave of growth that the government should focus on,” asserts Amrit, advocating for robust policy frameworks to harness India’s manufacturing prowess and unlock prosperity. 

Empowering India’s Hinterland, Driving Inclusive Growth and Prosperity

ZETWERK is committed to sustainability and social responsibility. “We’re doing our best to be an ESG (environmental, social, and governance) company,” asserts Srinath, highlighting ZETWERK’s efforts to minimize environmental footprint and promote ethical business practices across the value chain. From prioritizing renewable energy sources to championing employee welfare and community development initiatives, ZETWERK takes a holistic approach to corporate citizenship, setting a precedent for responsible business conduct in the manufacturing sector.

Srinath and Amrit envision a future where ZETWERK catalyzes socio-economic transformation, driving inclusive growth and prosperity across India. “We’re looking at how we can enable jobs in rural India,” shares Srinath, outlining ZETWERK’s plans to leverage technology and skill development initiatives to create meaningful employment opportunities in underserved communities. With empowerment and inclusivity, ZETWERK seeks to pave the way for an equitable and sustainable future.

Charting India’s Green Energy Trajectory: Insights from Industry Leaders

In a panel discussion on “Green & Smart Transforming India with Renewable Energy” at the ZETWERK Smart Manufacturing Summit, 2024, industry leaders came together to talk about the nuances of India’s renewable energy landscape, exploring manufacturing contributions, solar energy’s potential, the evolution of green hydrogen, smart energy management, and innovative financing strategies. Here are key takeaways from their discussion.

Setting Sail – India’s Renewable Energy Ambitions

The discussion started with a fundamental question for the panelists – How can Indian manufacturers actively contribute to India’s goal of achieving 500GW of renewable energy by 2030? Mr. Sandeep Batra, Group General Manager (Civil) at NHPC, outlined NHPC’s role in this endeavor, emphasizing integrating hydroelectric power with solar and wind energy. He underscored the policy interventions by the Ministries of Power and Renewable Energy as reflective of India’s steadfast commitment to meeting these ambitious targets. Mr. Batra’s insights shed light on the coordinated efforts required of the public and private sectors to propel India towards its renewable energy aspirations.

Solar Soaring – Unleashing the Potential of Solar Energy

Next, solar energy emerged as a focal point of the discussion, given its significant contribution to India’s renewable energy mix. Mr. Anurag Garg, CEO of Jakson Solar Modules, provided a nuanced perspective on the key factors shaping India’s solar energy trajectory. He highlighted the affordability of solar energy due to increased manufacturing in India and plummeting silicon prices, citing solar’s substantial 45% contribution to the energy mix in the previous year. Mr. Garg’s estimation of achieving 280GW of solar capacity by 2030 underscored the immense potential yet to be unlocked in India’s solar journey.

Beyond Boundaries – Exploring the Frontiers of Solar Innovation

Mr. Sabyasachi Biswas, Senior VP of Digital Initiative at Vikram Solar, elucidated the next frontier for reducing solar energy costs and enhancing competitiveness. His discussion encompassed innovations in product design, material sciences, supply chain optimization, and customer experience enhancements. Mr. Biswas’ insights painted a picture of a rapidly evolving solar landscape poised for breakthroughs that could transform solar energy into a ubiquitous and affordable energy source for all.

Hydrogen Horizons – Navigating the Green Hydrogen Frontier

Mr. Shaji John, Business Head of Ohmium, provided a detailed analysis of India’s National Green Hydrogen Mission and the significant investments earmarked in the recent budget. He projected a trajectory toward commercial viability for green hydrogen, citing government funding initiatives and industry collaborations as key drivers. Mr. John’s insights illuminated the path forward for green hydrogen adoption, positioning India as a global leader in this burgeoning sector.

Smart Strategies – Embracing Digital Transformation in Energy Management

Mr. Srinath Ramakkrushnan, Co-Founder & COO of Zetwerk, emphasized adopting smart technologies by Indian businesses to optimize power usage. He highlighted private sector investments in rooftop, captive, and smarter energy management systems, citing favorable CapEx to OpEx calculations as driving forces. Mr. Ramakkrushnan’s discussion underscored the pivotal role of technology in revolutionizing energy management practices for a sustainable future.

Storage Solutions – Addressing Grid Stability with Pumped Hydroelectric Storage

Grid stability emerged as a critical theme, with Mr. Sandeep Batra shedding light on the challenges posed by integrating intermittent solar and wind energy into the grid. He emphasized NHPC’s investments in pumped hydroelectric storage capacities as a scalable and mature solution to stabilize grids. Mr. Batra’s insights provided a roadmap for enhancing grid stability amidst the increasing penetration of renewable energy sources.

Solarizing Homes – Jackson’s Contribution to India’s Solar Mission

The discussion turned towards Jakson’s role in India’s solarization efforts, particularly in the Prime Minister’s Surya Ghar Yojana aimed at solarizing one crore homes. Mr. Anurag Garg elaborated on Jakson’s comprehensive approach as a complete solar player, highlighting manufacturing capabilities, rooftop installations, investment in projects, and exploring recycling and backward integration for self-reliance. His insights underscored Jakson’s competitive advantage in contributing to India’s comprehensive solarization goals.

Decentralized Dynamics – Exploring Opportunities in Rooftop Solar and Off-Grid Systems

Mr. Sabyasachi Biswas explained the advantages of decentralized solar energy generation, such as rooftop and off-grid systems. He discussed the economic and community-level impacts of rooftop solar and microgrids, highlighting their potential in addressing last-mile electrification challenges and powering economic growth at the grassroots level. Mr. Biswas’ insights painted a picture of decentralized solar as a catalyst for socio-economic development.

Green Hydrogen Growth – Ohmium’s Collaborative Journey and Expansion Plans

Mr. Shaji John elaborated on Ohmium’s collaborative efforts with NTPC in green hydrogen projects across India. He outlined Ohmium’s expansion plans and its role in developing the green hydrogen ecosystem. Mr. John’s insights highlighted the transformative potential of green hydrogen and Ohmium’s contributions to India’s renewable energy landscape.

Financing the Future – Innovative Strategies for Affordable Capital

The conversation shifted towards financing strategies for renewable energy initiatives, with Mr. Anurag Garg and Mr. Sabyasachi Biswas discussing innovative financial instruments such as green bonds and international consortiums. They emphasized the availability of funds and the need for strategic collaborations to ensure affordable capital for implementing renewable energy projects at the grassroots level. The panelists’ insights underscored the critical role of financing in driving India’s energy transition.

Securing Supply Chains – Enhancing Resilience Amid Geopolitical Uncertainties

Mr. Srinath Ramakkrushnan emphasized securing supply chains in the renewable energy sector, especially amidst geopolitical uncertainties. He highlighted the need for making-in-India initiatives, import substitution, and efficient energy management software to protect India’s energy infrastructure from risks. Mr. Ramakkrushnan’s insights provided a holistic view of supply chain resilience in India’s energy transition.

The panel discussion provided a comprehensive roadmap for India’s renewable energy odyssey. With concerted efforts, technological innovations, strategic collaborations, and robust financing mechanisms, India is poised to emerge as a global leader in renewable energy, driving sustainable growth, mitigating climate change, creating jobs, and ensuring energy security for generations. The journey towards a sustainable and resilient energy future has begun, and India stands at the forefront of this transformative paradigm shift.

India’s pivotal moment to be an environmentally conscious manufacturer is now.

In a panel discussion at the ZETWERk Smart Manufacturing Summit, 2024, our distinguished guests, Mr. Anurag Jain, Secretary of Road Transport and Highways, and Mr. Bhupinder Bhalla, Secretary of the Ministry of New and Renewable Energy, had a discussion critical to India’s industrial prowess and global standing with Parikshit Luthra, Editor & Chief of Bureau, CNBC-TV18. 

Driving Logistics Efficiency and ‘Make in India’ Momentum

Mr. Jain started by recounting India’s logistical transformation. He highlighted the logistics policy unveiled in 2022, which raised India’s Logistics Performance Index (LPI) rank from 44 to 38. Noteworthy achievements included the Delhi-Mumbai expressway project, which significantly reduced travel time and costs, emblematic of India’s commitment to a robust supply chain.

Mr. Bhalla then emphasized decarbonization as a cornerstone of India’s manufacturing narrative. He articulated the Government of India’s vision to achieve 50% electricity from renewables by 2030 and a monumental 500 gigawatts of non-fossil electricity capacity, underscoring India’s pledge towards sustainable industrial growth.

Navigating the Renewable Energy Transition

Mr. Bhalla presented a strategic roadmap devoid of rigid mandates but rich in incentivization. The Renewable Purchase Obligation (RPO) framework emerged as a subtle yet potent lever, nudging industries towards greener practices without stifling autonomy.

Catalyzing Collaboration and Investment

Mr. Jain expounded on initiatives like PM Gati Shakti and the green hydrogen mission. These collaborative frameworks not only fostered technological innovation but also dismantled bureaucratic silos, paving the way for efficient capital expenditure and amplified outcomes.

The Green Hydrogen Frontier

When the conversation moved to green hydrogen, Mr. Bhalla painted a canvas of progress and promise. The Green Hydrogen Mission’s ambitious targets and the industry’s enthusiastic response underscored India’s emergence as a global player in the renewable energy landscape.

The Road Ahead: Innovation, Integration, and Sustainability

The sustainability narrative came to the fore with Mr. Jain explaining the GoI’s vision for road and highway development. A scientific approach fueled by data-driven insights and collaborative platforms like PM Gati Shakti promised an era of integrated multimodal planning, unlocking efficiencies, and optimizing resource allocation.

Renewable Energy Renaissance: Solar, Wind, and Beyond

Mr. Bhalla elaborated on India’s renewable energy odyssey, from the soaring heights of solar energy deployment to the burgeoning prospects in wind energy, both onshore and offshore. The vision for a fully integrated supply chain in solar energy and the burgeoning interest in offshore wind projects painted a picture of India’s renewable energy renaissance.

Navigating Electric Vehicle Transition

The dialogue on sustainable manufacturing culminated in a discourse on electric vehicles, where targeted subsidies, regulatory frameworks, and industry collaboration emerged as the cornerstone of India’s electric mobility journey.

Innovation, inclusion, and sustainability emerged as the keystone of India’s industrial evolution. The dialogues of Mr. Jain and Mr. Bhalla resonate not just within the corridors of policymaking but also in the echelons of global discourse, positioning India as a formidable force driving the narrative of a sustainable and inclusive future. 

As the wheels of progress turn, India’s manufacturing odyssey unfolds, charting a course toward resilience, agility, and sustainability in the era of smart manufacturing.

EVs and Sustainability Initiatives with Dr. Anish Shah, the Group CEO & MD of Mahindra & Mahindra Limited.

In a Fireside Chat at the ZETWERK Smart Manufacturing Summit, 2024, Dr. Anish Shah, the Group CEO & MD of Mahindra & Mahindra Limited, offered illuminating insights into India’s manufacturing landscape and its potential trajectory by 2030 with Ms. Shereen Bhan, Managing Editor, CNBC TV-18. 

The discourse commenced with an exploration of the anticipated surge in private investments, propelled by favorable trends across sectors. Dr. Shah lauded the government’s efforts in catalyzing capital expenditure (CapEx) spending, resulting in historic levels of investment with profound multiplier effects. This shift towards enduring CapEx strategies reflects India’s resilience amid global uncertainties, signaling a shift from short-term incentives to sustainable growth models.

The emphasis on long-term investments resonates with economic principles advocating for stability and resilience, positioning India to fortify its economic foundation for enduring expansion and global competitiveness.

The Landscape of Manufacturing and MSMEs

Dr. Shah’s analysis of the post-pandemic manufacturing recovery delineated a nuanced landscape, with certain sectors exhibiting robust growth while others grappled with slower rebounds. This nuanced understanding underscores the intricate dynamics shaping India’s manufacturing sphere, encompassing supply chain disruptions, evolving consumer behaviors, and technological advancements.

Furthermore, Dr. Shah underscored India’s burgeoning reputation as a manufacturing hub and its consequential positive effects on Micro, Small & Medium Enterprises (MSMEs). This emphasis on inclusive growth mirrors broader economic philosophies advocating for equitable development as a catalyst for sustained prosperity and societal cohesion.

Exploring Growth Opportunities

Explaining Mahindra Group’s strategic roadmap, Dr. Shah expounded on the conglomerate’s diversified portfolio spanning multiple industries. This diversified strategy aligns seamlessly with India’s evolving growth trajectory, capturing opportunities in the automotive, agriculture, real estate, hospitality, logistics, and renewable energy sectors.

He maintained that such a multifaceted approach reflects an acute awareness of emerging trends, technological innovations, and evolving consumer preferences, positioning Mahindra Group for agility, resilience, and sustained competitive advantage amidst dynamic market landscapes.

EVs and Future Investments

Addressing concerns surrounding the EV sector amid global shifts, Dr. Shah reiterated Mahindra’s steadfast commitment to EV investments while acknowledging pertinent challenges like charging infrastructure and cost competitiveness vis-a-vis Internal Combustion Engine (ICE) vehicles. Discussions also touched upon potential ventures in battery manufacturing, highlighting the economic viability and strategic alignment with core business imperatives.

This strategic focus on the EV sector resonates with global movements towards sustainable mobility solutions and renewable energy integration, illustrating India’s commitment to environmental stewardship and seizing opportunities in the burgeoning green economy.

Government Policies and Sustainability Goals

The dialogue traversed government policies such as the FAME scheme and sustainability initiatives, with Dr. Shah advocating for balanced incentives to drive EV adoption. He emphasized the necessity of gradual subsidy reductions aligned with industry maturity, coupled with Mahindra’s proactive sustainability efforts encompassing a robust scrapping policy, gender parity initiatives, and skill development programs.

This emphasis on policy coherence and sustainability underscores India’s endeavors towards responsible economic development, environmental resilience, and societal inclusivity, fostering an environment conducive to innovation, investment, and equitable growth.

Vision for Indian Manufacturing

The Fireside Chat culminated with Dr. Shah articulating his vision for India’s manufacturing sector, envisioning a global powerhouse status by 2035 propelled by innovation, collaboration, and a skilled workforce. This vision aligns harmoniously with broader economic narratives emphasizing technological advancements, human capital cultivation, and international competitiveness as drivers of sustained economic growth and prosperity.

Dr. Shah’s insights, infused with pragmatic optimism and strategic foresight, encapsulate India’s trajectory towards becoming a beacon of manufacturing excellence, anchored in sustainable practices, innovation-driven growth, and a collaborative ecosystem poised for global leadership in the manufacturing domain.

Exploring Agility, Sustainability, and Innovation in Industrial Manufacturing Through Expert Perspectives and Industry Strategies

Industrial manufacturing is evolving at an unprecedented pace, driven by technological advancements and changing consumer expectations. The concept of ‘Factories of The Future’ has become crucial, highlighting the need for agility, sustainability, and innovation across industries. In a recent panel discussion hosted at the ZETWERK Smart Manufacturing Summit – 2024, industry leaders spoke about the challenges and opportunities presented in this era.

The panelists, including Mr. Shashank Srivastava, SEO, Maruti Suzuki India Ltd., Mr. Bipul Chandra, Director, Ducati India, and Mr. Amrit Acharya, CEO and Co-founder, ZETWERK shed light on their respective industries and strategies for building factories of the future.

Embracing Technological Advancements

Mr. Srivastava highlighted the transformative impact of AI, ML, and IoT on automotive manufacturing. He emphasized how these technologies compress product development cycles, enhance quality through digital simulations and additive printing, and optimize logistics and energy efficiency. Integrating robotics in manufacturing processes was cited as a game-changer, enabling scale, quality, and global competitiveness.

Niche Manufacturing Excellence

Mr. Chandra spoke about the luxury automobile sector’s focus on handcrafted precision and performance. While leveraging AI and simulation tools for design and manufacturing, he said that Ducati prioritizes human expertise and craftsmanship in creating high-performance bikes. The intricate balance between technological advancements and artisanal craftsmanship underscores Ducati’s commitment to delivering unparalleled products for the customer.

Customer-Centric Innovation

Mr. Acharya discussed the role of customer value propositions in shaping manufacturing strategies. By focusing on solving customer needs and leveraging the right technological tools, ZETWERK aims to stay agile in a dynamic market landscape. The company’s approach emphasizes flexibility, supply chain transparency, and rapid response to evolving customer demands across sectors like defense, solar, renewables, and aerospace.

Talent and Investment in AI

The discussion also touched upon the growing importance of AI talent and investments in the manufacturing sector. While Maruti Suzuki is ramping up its AI capabilities across various functions, Ducati is concentrating investments to ensure product reliability, performance, and safety. Amrit Acharya emphasized the need for AI-driven supply chain optimization to meet short timeframes and tailor-made demands, especially in a globalized business environment.

Adaptability in Manufacturing: Challenges and Opportunities

The panelists reflected on the challenges and opportunities manufacturers face in the face of changing consumer preferences and technological advancements. Mr. Shashank Srivastava highlighted the importance of forecasting and predictability in meeting market demands efficiently. He emphasized leveraging analytical tools to navigate through variables and accurately forecast trends.

Investing in Future Technologies

The conversation then shifted towards the role of technology and innovation in shaping the future of manufacturing. Mr. Bipul Chandra emphasized having the best talent and advanced technologies in place to deliver high-quality products. He discussed Ducati’s focus on leveraging AI and advanced machinery to ensure precision and reliability in their products, underlining the mantra of getting it right the first time, every time.

Global Manufacturing Trends and India’s Position

The discussion also touched on global manufacturing trends and India’s position in the global manufacturing landscape. Mr. Acharya presented a unique perspective, highlighting the need for India to identify its niche strengths and focus on sectors where it can excel. He emphasized the importance of agility in legislation and aligning with global demands to attract investments and foster growth in manufacturing.

Challenges in Electric Vehicle Adoption

The conversation also delved into the challenges and opportunities of the growing trend of electric vehicles (EVs). Mr. Srivastava discussed Maruti Suzuki’s outlook on EV adoption, stressing the coexistence of multiple technologies and the need for a gradual transition driven by regulatory norms and consumer acceptance.

Government Initiatives and Industry Expectations

Touching upon government initiatives and industry expectations, Mr. Chandra and Mr. Acharya shared their perspectives on how policies can better support startups and foreign investors, fostering a conducive environment for growth and innovation in manufacturing.

Key Takeaways and Final Thoughts

The masterclass on ‘Factories For The Future’ and Indian Manufacturing’ left the audience with several key takeaways. The importance of adaptability, technological innovation, and strategic foresight emerged as central themes. The panelists’ discussions underscored the need for a collaborative approach involving industry, government, and stakeholders to propel India’s manufacturing sector toward greater heights.

These discussions underscored the importance of adaptability, technological innovation, and strategic foresight in shaping the future of manufacturing. It was evident that a collaborative approach involving industry, government, and stakeholders is essential to propel India’s manufacturing sector to build “Factories of the Future”.

Exploring Aggregation, Innovation, and Technology Adoption in Smart Manufacturing for a Resilient and Competitive Industry Landscape

In a panel discussion at the ZETWERK Smart Manufacturing Summit 2024, Vishal Choudhary, Co-Founder of ZETWERK, and Akarsh Hebbar, Global MD of Semiconductors and Display at Vedanta, spoke about the transformative landscape of Smart Manufacturing and its profound impact on traditional manufacturing paradigms. The conversation shed light on pivotal themes such as the role of cutting-edge technologies, challenges encountered by smaller manufacturing entities, supply chain resilience, the advent of AI, and the future of Indian manufacturing.

Empowering Small-Scale Manufacturers Through Aggregation and Innovation

Vishal shared poignant insights into their journey of empowering small-scale manufacturers. He stated, “We realized the untapped potential in smaller manufacturers scattered across industrial hotspots in India.” ZETWERK’s groundbreaking approach of aggregation revolutionized the landscape by connecting these MSMEs with a global clientele. This strategic move not only bolstered manufacturers’ capacity utilization rates but also catalyzed a paradigm shift towards efficient, globalized manufacturing practices.

Navigating Cost Disparities with Innovative Manufacturing Techniques

As the discussion unfolded, Vishal elaborated further on the challenges faced by smaller manufacturing units; “Custom manufacturing necessitates meticulous planning over scale.” ZETWERK’s arsenal of in-house developed data-driven tools has proven to be a game-changer, enabling smaller players to compete on quality and efficiency rather than scale alone. This emphasis on innovation and planning has resulted in competitiveness for smaller units, bridging the gap with larger counterparts.

The Role of New-Age Business Models and Leadership in Adopting Emerging Technologies

Akarsh explained to the audience his vision for the future. He remarked, “New-age leadership is the cornerstone of embracing technological disruptions.” Vedanta’s foray into high-tech manufacturing underscored the pivotal role of agile leadership in navigating complex industry dynamics. Akarsh’s insights highlighted the symbiotic relationship between visionary leadership and technology adoption.

Harnessing the Power of Emerging Technologies for Manufacturing Excellence

The conversation pivoted towards emerging technologies like AI in manufacturing and the transformative effect it could have. Akarsh and Vishal shared compelling anecdotes showcasing AI’s tangible impact on shop floor safety, quality control, and operational efficiency. Vishal emphasized, “AI augments human capabilities, enhancing rather than replacing skilled labor.” This nuanced perspective dispelled common misconceptions about job displacement, portraying AI as an enabler of manufacturing excellence.

Supply Chain Resilience and Globalization in Manufacturing

Akash and Vishal strongly agreed on the imperative of supply chain resilience, particularly in a post-COVID era fraught with disruptions. Akarsh emphasized, “Globalization necessitates a robust, agile supply chain.” Insights on predictive planning, diversified sourcing, and global partnerships underscored India’s potential as a manufacturing hub. The dialogue underscored the collaborative efforts needed to fortify supply chains against unforeseen challenges.

Enabling India’s Manufacturing Aspirations Through Innovation and Collaboration

Akarsh expressed confidence in India’s manufacturing aspirations. He asserted, “Innovation, collaboration, and government support are catalysts for India’s manufacturing revolution.” This optimism underscored India’s potential to emerge as a global manufacturing powerhouse, buoyed by technological prowess and visionary leadership.

A panel discussion that encapsulated a tapestry of insights, quotes, and real-world examples, painting a vivid picture of the evolving manufacturing landscape. As industry leaders, policymakers, and innovators collaborate, India’s journey toward manufacturing excellence for unprecedented growth, resilience, and global competitiveness is underway.