india must try to profit from ‘industry 4.0’

by:INDUSTRIAL-MAN     2019-10-11
Data released this month showed India\'s average economic growth rate of 7.
In 2015, 5% per cent.
As the International Monetary Fund predicts, India\'s growth rate in 2015 was higher than that of China.
Today, India
Business Management and Prime Minister are keen to include leaders from developed economies in this line.
It is a country that acts like an established power on the world stage, so it should do so.
Openness to international cooperation is a measure of a great business country, and Finance Minister Arun Jaitley has laid the foundation for a comprehensive reform of foreign direct investment and the removal of retroactive taxes;
But modern business countries are more important than services, which account for 55 of India\'s GDP.
Analysts at the Davos Forum said we must be prepared for the fourth industrial revolution. 0.
\"This is an era of advanced manufacturing, composites, Quantum Engineering, 3D printing and robotics, a new face for global industry that will subvert existing industries, from transport to construction.
In India, Prime Minister Modi\'s goal is to use foreign direct investment in Indian manufacturing through his \"Made in India\" campaign, thus increasing the industry\'s contribution to India\'s GDP from 16 to 25.
The question is whether the industry is capable of addressing this global challenge.
The rapid development of global manufacturing shows that Indian manufacturing companies are easily lagging behind their global counterparts.
New technologies and patents are very beneficial, but patents from the United StatesS.
The technology in the UK exceeds the new technology in India.
These industries may be overwhelmed by the influx of new and innovative technologies.
India does not have the same scale of higher education and vocational training as the United States. S.
Although the UK is Google CEO sandal Pichai\'s alma mater, the UK is still enjoying the fun of the Institute of Technology.
To achieve this scale, India should open its higher education sector and allow foreign universities to open campuses there.
Does this mean that India\'s next generation of economic capacity will be foreign?
Indians will benefit from the fourth industry. 0?
Judging from the impact of Tata industry on the British industrial landscape, Indian companies seem to be ready to play a huge role in future technological innovation.
Tata Steel and Tata-
Jaguar Land Rover has re-built manufacturing at the industrial center in central and northern England.
They are key partners in UK university innovation, through advanced steel research and automotive innovation, building a bridge between the previous industrial era and the future industry.
Indian companies are our main research partners in the UK.
There is no doubt that Indian manufacturers are capable of providing large
Expand order size and invest in R & D capabilities of local supply chains.
It is imperative to develop skills to support manufacturing growth.
Policymakers must also focus on encouraging collaboration between universities and industry in research and development, which is a matter of course in the UK.
For example, Jaguar Land Rover works closely with Warwick Manufacturing Group and Rolls-Royce at Warwick University --
Royce works closely with the University of Birmingham in advanced engineering research and development.
The world is attracted by the upcoming Industrial Technology Development, and if India\'s leadership in this area continues, its growth rate will be difficult to compete.
With the growth of global manufacturing output, India\'s economy is expected to exceed Prime Minister Modi\'s target.
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