Saturday, July 5, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Investment

Supply chain shift from China offers opportunity for India to digitise manufacturing

Fiinews by Fiinews
March 12, 2021
in Investment, Manufacturing, Technology
Reading Time: 4 mins read
A A
0
Gateway House-Exim Bank of India
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Rasquinha: Disruptive technologies have created a new realm of opportunities

The possible realignment of supply chains away from China offers a significant opportunity for India to modernise its manufacturing with digitisation, according to a research study conducted by Gateway House in partnership with India Exim Bank.

The breakthrough research study by Gateway Houseconducted in partnership with Export-Import Bank of India (India Exim Bank) along with the guidance of Progressive Policy Institute, Washington D.C. titled “Digital Manufacturing in India” examines how India has the potential to become a global manufacturing hub if it speeds up the adoption of digital manufacturing.

At present, digital manufacturing in India runs in parallel with global efforts in technology, with limited scale. However, for it to be truly successful, it must scale up, and especially be adopted widely by small and medium enterprises which are ready for the take-off.

“Digital manufacturing is the next wave of business globalization, which, post-pandemic is not just blind automation to save costs but the smart use of digital tools to modernise industry andcreate good quality jobs. Digital manufacturing is the next leap for India’s tech leadership – the first being the software outsourcing movement in the 1990s,” said Manjeet Kripalani, Executive Director and co-founder, Gateway House: Indian Council on Global Relations said,

“This time around, government incentives are aligning with industry interests. It offers India a chance to reposition itself globally, and play a leadership role in the Industry 4.0 future,” Kripalani said in a release on the study.

The research study was launched by David Rasquinha, Managing Director, India Exim Bank in the presence of prominent Government and India Inc representativesat an online Roundtable organised on 10 March 2021.

In his opening remarks, Rasquinha said, “Disruptive technologies have created a new realm of opportunities, in today’s increasingly interconnected and complex world. Traditional businesses need to transform into digital enterprises to meet the changing needs of their customers, and stakeholders, while remaining cost-effective and competitive.

“A digital transformation— one that’s real-time, intuitive, automated, secure, and open— is imperative for businesses to survive in this highly competitive world. MSMEs would remain the key enablers in driving Industry 4.0 while playing a vital role in this journey of transformation of the Indian manufacturing sector.”

The study is the culmination of more than a year of in-depth research and field visits focused on the country’s pre-and-post-COVID digital manufacturing ecosystems. The timing of the study is opportune, as the pandemic has accelerated the adoption of digital manufacturing in India as also globally. Within India, digital adoption on the shopfloor has outpaced global peers on many counts. Companies that saw it as an option, now understand it as a business imperative.

“This study aligns with the government’s campaigns of Make in India, Digital India and Start-up India along with Prime Minister Narendra Modi’s recent push for Atmanirbhar Bharat. It also resonates with Gateway House’s mission to expand India’s role in global affairs by aligning business and technology with India’s foreign policy,” added Kripalani.

“In future, technological innovation could also lead to a supply-side miracle, with long-term gains in efficiency and productivity. R&D infusion would play a critical role in uplifting the manufacturing sector to its desired level and enhance productivity and innovation-driven growth,” added N. Ramesh, Deputy MD, India Exim Bank.

He explained, “India Exim Bank through its new UbharteSitare Programme would strive to identify and support fundamentally strong Indian companies, which could be future champions with good export potential in select manufacturing and service sectors, having unique value proposition in respect of technology, products or processes that are matching with global requirements”.

The study paper recommends the following:

Creation of a manufacturing excellence programmeto recognize Indian MSMEs for digital adoption akin to the World Economic Forum’s Light House Network.

Publication of a pan-nation centralized directory of Industry 4.0 start-ups mapping their capabilities on government portal to facilitate wider market access for start-ups that run on thin marketing budgets.

Synergizing efforts of academic institutions and industry to create an affordable ecosystem for upskilling of manufacturing workforce and inhouse faculty.

Accelerated end-to-end digital adoption by Indian manufacturing MNCs in order to benefit from the global shifts in supply chains and establish India firmly as an Industry 4.0 enabled manufacturing hub.

Export-Import Bank of India (India Exim Bank), established in 1982, is a premier financial institution wholly owned by the Government of India, set-up to finance, facilitate and promote India’s trade and investment.

The Indian Council on Global Relations is a foreign policy think tank in Mumbai, established to engage India’s leading corporations and individuals in debate and scholarship on India’s foreign policy and the nation’s role in global affairs. Gateway House is independent, non-partisan and membership-based working towards co-designing perspectives on global issues that are important to India with a focus to taking India from a global rule taker to rule maker. #technology #digital #market #manufacturing #investment /fiinews.com

Tags: Exim Bank of IndiaGateway House
ShareTweetShare

Related Posts

FICCI
Manufacturing

Manufacturing: Framework on Drones by Sep-Oct

by Fiinews
July 5, 2025
0
14

Lt Gen Singh urged industry to invest more on component level R&D Lt Gen Rahul R Singh, Deputy Chief of...

IPA
Investment

Invest: Serendipity Space raises pre-seed round

by Fiinews
July 5, 2025
0
17

Company leveraging space-based crystallization technology Serendipity Space, a pioneering space-tech company developing microgravity-based pharmaceutical manufacturing solutions, has raised its pre-seed...

Air Liquide

Manufacturing: Air Liquide builds ASU-CFS

July 5, 2025
13
MTI

Tech: TCS to be part of Singapore Smart Nation

July 5, 2025
20
NITI Aayog

Manufacturing: India’s chemical sector faces challenges

July 5, 2025
21
Predictmedix

Tech: Predictmedix launches screening from India

July 4, 2025
15
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tender: Take care of new urban development
  • Manufacturing: Framework on Drones by Sep-Oct
  • Project: Joint maritime professionals launched
  • Market: Daimler bullish on construction sector
  • Tender: Minister wants innovation in projects

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.