It’s time for India’s corporate leaders, policy makers and innovators to get together and chart out a new course for the future of Manufacturing in the digital era.The India Growth Story
The Government of India has declared the start of Amrit Kal, or Golden Era of prosperity, leading up to the centenary of Indian independence in 2047. It is envisaged that in this timespan, India will finally join the ranks of developed nations of the world. Achieving this lofty goal will require the country to realize the full potential of the demographic dividend on offer, with a vast population of young, aspirational Indians hungry for opportunities to grow and succeed.
As the third-largest economy in purchasing power parity and the fifth-largest by market exchange rates, India bounced back quickly after facing challenges from the pandemic and conflicts in Europe and was christened as something of a ‘sweet spot’ even as most developed economies struggled. The Reserve Bank of India forecasts a 6.5% GDP growth for the fiscal year ending in 2024 while the projected consumer price index (CPI)-based inflation for the current fiscal year is at 5.4%. Other predictors like S&P Global have made similar predictions, indicating that the economy is on a positive trajectory.
Moreover, with world leaders touting this to be ‘India’s techade’, given its gigantic leaps in digital innovation and adoption, the time is apt for various industry sectors including manufacturing, to transform themselves and aim for excellence by harnessing emerging technologies.
Manufacturing in India
The manufacturing sector, with a 17% share of GDP and employing 27.3 million people, has long been hailed as a source of national development and prosperity. Policy reforms like the goods and services tax, the adoption of digital payments through avenues like Unified Payments Interface as well as the production-linked incentive schemes for 14 key industries have all lead to boosting businesses and streamlining manufacturing and distribution processes.
However, the exponential growth that India needs to fulfil its developmental goals calls for bigger value additions in manufacturing, facilitated by a novel, tech-led and sustainable approach. India has already proven its technological proficiency by leading the creation and adoption of a wide network of digital goods and services. The question is, can those same principles deliver productivity and innovation gains that will elevate Indian manufacturing to global leadership? How can Indian manufacturers truly adopt and leverage the benefits of Industry 4.0 or the fourth industrial revolution?Smart Manufacturing Blueprint
Manufacturing stands as a cornerstone of India's economy, poised to play a pivotal role in post-Covid recovery. The pandemic has starkly illuminated the vulnerabilities within economies, emphasizing the crucial role of cutting-edge technologies, process innovations, and evolving demand patterns. It is imperative that we delve deeper into the manufacturing playbook, fostering meaningful discourse to drive strategic innovation for a smarter future.
Smart Manufacturing represents a pivotal milestone in the evolution of modern industry. This comprehensive framework is meticulously designed to guide businesses through the seamless integration of cutting-edge technologies into their manufacturing processes. By implementing Smart Manufacturing, businesses can unlock a new era of productivity, cost-effectiveness, and innovation. It is poised to redefine industry standards, equipping enterprises with the strategic vision and technical know-how needed to thrive in an era of rapid technological advancement.
Smart Manufacturing is not a one-size-fits-all solution, but a dynamic framework that can be tailored to suit the unique needs and operations of each business. It offers a roadmap for companies to transition towards a more connected, data-driven, and agile manufacturing ecosystem. By leveraging real-time data analytics and predictive maintenance models, businesses can make informed decisions, reduce downtime, and ultimately boost their bottom line. With its forward-thinking approach, CNBC-TV18 Zetwerk Smart Manufacturing Summit 2024 will empowers enterprises to navigate the complexities of Industry 4.0 and emerge as leaders in the era of smart manufacturing.CNBC-TV18 Zetwerk Smart Manufacturing Summit 2024: A Zetwerk & CNBC-TV18 collaboration
A critical cog in this wheel of transition towards a smarter manufacturing future includes constructive dialogues between key stakeholders, collaborations between industry, academia and policymaking and unique platforms that offer thought leadership and a roadmap for the way forward. These objectives are at the heart of a unique multimedia initiative launched by CNBC-TV18 and Zetwerk, called the Zetwerk CNBC-TV18 Smart Manufacturing Summit 2024.
The centrepiece of the campaign will be a gala two-day Smart Manufacturing Summit focusing on establishing India as a global manufacturing hub and increasing the contribution of manufacturing in making India a $5 trillion economy. In the wake of the 10-year anniversary of the ‘Make In India’ initiative, the Summit will bring together top policymakers, industry leaders, decision makers, entrepreneurs and domain experts to discuss how businesses in India can navigate the strictures of Industry 4.0 and unlock new avenues of growth. The multidimensional nature of the summit will be reflected in the wide-ranging topics of panel discussions and diverse programming formats on the agenda, conceptualised to present a holistic view of smart manufacturing. CXO sessions will bring together industry leaders to address the entire gamut of potential impact and opportunities arising from the adoption of smart manufacturing principles. These include discussions on evolving supply-side dynamics, like 'Quality Assurance and Compliance in Contract Manufacturing', to insights on the role of the wider manufacturing ecosystem in defining 'The Future of B2B Smart Contract Manufacturing: Trends And Opportunities'. Technological enthusiasts will draw value from elite deliberations on 'AI, IoT, and Data Analytics in Manufacturing: MSMEs Digital Transformation Journey', while industrial policy mavens can join the conversation on 'Government Initiatives and Manufacturing Growth in India'.The Summit will also recognize and celebrate the achievements of iconic and innovative manufacturers that symbolise the spirit of ‘Make in India for India and Make in India for the World, those who played a pivotal role in putting the nation on the world map!
According to Amrit Raj, Head of Marketing, Zetwerk, “The CNBC TV18 and Zetwerk Smart Manufacturing Summit 2024 is a pivotal platform, driving technological innovation and collaboration in the manufacturing sector. This year promises to be even more monumental, reflecting Zetwerk's remarkable growth and the enduring partnerships we've forged. Together, we're shaping the future of smart manufacturing and driving a positive change in the industry.”Multimedia Prequel to the CNBC-TV18 Zetwerk Smart Manufacturing Summit 2024
While the CNBC-TV18 Zetwerk Smart Manufacturing Summit 2024 remains the cynosure of the campaign, a host of great multimedia content is set to precede it. In the months prior to the summit, viewers will be treated to dedicated weekly news stories showcasing India’s manufacturing prowess through innovative products and services and the companies and people behind them, highlighting India’s vast reserves of manufacturing ingenuity.
Additionally, CXO round table discussions on television and a podcast series on digital and social media will give viewers a chance to listen to iconic and inspirational leaders of the manufacturing sector, expressing their hopes and expectations from the forthcoming ‘smart’ transition in manufacturing. Additionally, live social media interviews with CXOs will allow the audience to interact directly with them in real time. All these discussions, dialogues and features will be the perfect primer for setting the context of the CNBC-TV18 Zetwerk Smart Manufacturing Summit 2024. Conclusion
CNBC-TV18 and Zetwerk will leverage their respective strengths to amplify the stakeholder conversations on smart manufacturing. As India’s leading business news channel for over 2 decades, CNBC-TV18 will mobilise its wide network of business leaders and trusted anchors and editors, while Zetwerk will endow the discussions with industrial knowledge, thought leadership and expertise in enabling smart manufacturing.
From the factory floor to the shop floor, the campaign will seek to envision the compounding effects of technological interventions in manufacturing. Viewers will learn how business processes are changing, the resulting impact on various stakeholders, like workforces being reskilled and redeployed, consumers demanding more intuitive products and services, or even regulators devising new standards of operation in a world of digitised manufacturing.
And as India moves forward towards its developmental goals, every future edition of the CNBC-TV18 Zetwerk Smart Manufacturing Summit will track manufacturing growth, the hits and misses and the transformation of India’s manufacturing landscape – signifying how far we’ve come and how much further we must go.CXO session topics could range between:For B2B Customers:Customer-Centric Manufacturing:
Meeting Evolving Needs: Discuss how different manufacturing players are adapting to the changing demands of its B2B customers in different industries and regions, and how customization and agility are essential to meet diverse customer requirements.Quality Assurance and Compliance in Contract Manufacturing:
Explore the role of quality assurance, compliance, and regulatory considerations in the contract manufacturing process and how players are ensuring adherence to standards.Supply Chain Resilience and Global Manufacturing Networks:
Discuss the need for resilient supply chains in a post-pandemic world and how global manufacturing networks like Zetwerk's adapt to ensure supply chain reliability.For Manufacturing Partners:Empowering MSMEs: The Role of Manufacturing Network in India:
Discuss how the ecosystem is supporting and empowering small manufacturing partners, driving higher utilization and revenue growth, while maintaining quality and standards.Collaborative Innovation in Manufacturing:
The “Make in India” Ecosystem: Examine how the ecosystem is fostering innovation and collaboration among its manufacturing partners to enhance capabilities and competitiveness in the industry.The Future of B2B Smart Contract Manufacturing:
Trends and Opportunities: Discuss the emerging trends in the contract manufacturing industry, including the role of technology, evolving customer demands, and the potential for global expansion.For Technology Enthusiasts:The Future of Manufacturing Technology:
A Glimpse into Make in India Approach: Explore the cutting-edge technologies and strategies deployed by players to unify the manufacturing ecosystem and ensure efficient, high-quality production.AI, IoT, and Data Analytics in Manufacturing:
MSMEs Digital Transformation Journey: Dive into the specific ways industry is leveraging AI, IoT, and data analytics to optimize operations, improve decision-making, and enhance the overall manufacturing experience.Customization and Mass Production:
Balancing Complexity in Smart Manufacturing: Explore the challenges and opportunities in balancing high-complexity custom manufacturing with mass production and how India’s manufacturing industry is addressing this dynamic.For Government and Industry Analysts:India's Manufacturing Aspirations: Act Local, Dream Global:
Analyze Govt.’s role in promoting India's manufacturing sector, job creation, and export opportunities in alignment with government initiatives, and assess India's MSME Engine’s impact on the broader industrial landscape.Government Initiatives and Manufacturing Growth in India:
Analyze the impact of government initiatives such as "Make in India" and the production-linked incentive (PLI) scheme on the manufacturing landscape and how manufacturing players are aligning with these programs.The pages slugged ‘Brand Connect’ are equivalent to advertisements and are not written and produced by Forbes India journalists.