The PHD Chamber of Commerce and Industry (PHDCCI) recently hosted its Industry 4.0 Summit at its headquarters, themed ‘TechCrafting the Future: Redefining Manufacturing with New Age Solutions.’ During the summit, Nagendra Nath Sinha, the Secretary at the Ministry of Steel, Government of India, highlighted the significant role of the Indian steel industry, contributing over 2% to the country’s GDP. He emphasized the transformative potential of Industry 4.0 in this sector, underlining the benefits for the Indian steel industry and Micro, Small, and Medium Enterprises (MSMEs), while also opening up global opportunities.
Sinha urged the Indian steel industry to not confine itself to the domestic market but explore global prospects, especially for secondary steel players. He mentioned various avenues, including training and networking at institutes like the National Institute of Secondary Steel Technology, Ludhiana, and Biju Patnaik National Steel Institute, Bhubaneswar, which fall under the Ministry’s purview.
Vijay Mittal, Joint Secretary at the Ministry of Heavy Industries, Government of India, highlighted the ministry’s role as the nodal ministry for Industry 4.0. The ministry has established Smart Advanced Manufacturing and Rapid Transformation Hub (SAMARTH) centers to promote Industry 4.0, with over 70,000 MSMEs and industries registered with these centers.
Nitin Jain, Co-Chair for the New Age Business Committee, PHDCCI, stressed the need for MSMEs to transition into Industry 4.0, as India’s steel production has been on the rise. He emphasized leveraging Industry 4.0 to enhance steel exports while addressing challenges such as high raw material costs and slow adoption of Industry 4.0.
Ravi Gupta, Co-Chair for the Minerals and Metals Committee, PHDCCI, discussed how Industry 4.0 has revolutionized manufacturing, reducing costs and enhancing quality through automation. He emphasized that embracing Industry 4.0 positions industries favorably for the future.
In summary, the Industry 4.0 Summit underscored the pivotal role of advanced technology in shaping the future of Indian manufacturing, particularly in the steel industry and MSMEs, while acknowledging the need for skill development and global outreach.