'Industry 4.0 necessary to hike mfg share in GDP'
Indian industry can not shy away from adopting Industry 4.0 and the country needs to focus on using green technologies and best global practices to increase the share of manufacturing in GDP, experts say.
The government is aiming to increase the share of manufacturing to 25 per cent of GDP from the present 17 per cent, with a view to creating millions of jobs and pushing the country's economic growth.
"To achieve this target, Indian industry has to adopt Industry 4.0 as it is important to boost manufacturing," Hospira Healthcare Managing Director Srini Srinivasan said, adding that this quality of products and ease of doing business would play major role. Industry 4.0 refers to the current trend of automation and data exchange in manufacturing technologies.
He was speaking at a session on 'Industry 4.0: leveraging for efficiency, adaptability, productivity, –what is in it for India' at the Andhra Pradesh investment summit here on Saturday.