Speaking at a summit organised by industry chamber, PHDCCI, Sinha, emphasized the contribution of the Indian steel industry to the country’s economy, accounting for over 2% of the GDP. He highlighted the transformative potential of Industry 4.0 for the steel sector, which has already propelled India to become the second-largest global crude steel producer within a short span.
He urged the Indian steel industry to explore global opportunities, particularly for secondary steel players, and mentioned various avenues for support and training available through institutes under the ministry’s purview.
Vijay Mittal, Joint Secretary, Ministry of Heavy Industries, Government of India, discussed the Ministry’s role as the nodal ministry for Industry 4.0. He highlighted the SAMARTH centers, which aim to enhance competitiveness by promoting Industry 4.0 adoption among MSMEs. Over 70,000 MSMEs and industries have already registered with these centers. He stressed the importance of transitioning from conventional manufacturing to Industry 4.0, especially for MSMEs, and finding cost-effective solutions for this transition.
Nitin Jain, Co-Chair, New Age Business Committee, PHDCCI & Co-Founder, Ofbusiness, noted that while large OEMs are already Industry 4.0 compliant, the focus should be on helping MSMEs transition into this new era of manufacturing. He highlighted India’s increasing steel production and the need to leverage Industry 4.0 to enhance steel exports. However, challenges such as high raw material costs and slow industry adoption of Industry 4.0 remain. He emphasized the importance of investing in new-age technologies for long-term benefits.Ravi Gupta, Co-Chair, Minerals & Metals Committee, PHDCCI, discussed how Industry 4.0 has transformed manufacturing by reducing costs, improving quality, and enhancing efficiency through automation. He highlighted the safety and security benefits of these technologies and their role in informed decision-making for businesses.
