Industry leaders call for innovative manufacturing
Innovation in manufacturing Research & Development is must to achieve ‘New India’, Dr H Purushotham, CMD, National Research Development Corporation (NRDC), has stressed.
“The manufacturing sector needs to increase its investment in Research and Development (R&D) to achieve ‘New India’, he told the Manufacturing Innovation Conclave 2018 (MIC2018) which was organised by the Confederation of Indian Industry in New Delhi 22 June 2018.
Dr Purushotham pointed out that the Indian government was leading the R&D work with more than 70% financial contribution compared to 30% contribution made by governments of development countries, supporting 70% forked out by the private sector.
While detailing NRDC’s forte and core expertise, Dr Purushotham highlighted the government’s focus on encouraging innovation for ideas that are fresh and have competitive advantages.
In his Keynote Address, Dr Raghupati Singhania, CMD, JK Tyre & Industries Ltd underlined that technology advancement, adequate education and training remain vital for continuation of innovation and growth.
“Through manufacturing innovation, we can accelerate our efforts in advancing expertise among the incumbent workforce, creating countless growth opportunities in the industry,” he said.
Dr Singhania elaborated, “Though the fundamental of manufacturing will remain constant, the time has arrived where we need to innovate the way we execute those fundamentals. We must incorporate the 4 M’s of manufacturing i.e. Material, Manpower, Machine and Method with innovative technologies.”
The manufacturing sector will experience more technology driven advances with breakthrough work in spheres such as nanotechnology, ‘connected’ assets with IoT, AI, machine learning, advanced analytics and additive manufacturing, according to Dr Rishi Bhatnagar, Conclave Co-Chairman & President, Aeris Communications India.
“Indian Companies with an innovation edge will have a strong competitive advantage,” he added.
A CII-Deloitte report titled ‘Building Manufacturing, Building India’ was also released during the Manufacturing Innovation Conclave 2018.
The conclave was attended by over 250 delegates from the manufacturing sector including industrialists, technology companies, consultants, academia and other stakeholders. fiinews.com
