Exploring AI's Role in Boosting India's Manufacturing Sector to 25% of GDP
India wants manufacturing at 25% of GDP — will AI in factories help?
The Economic TimesImage: The Economic Times
India aims to increase its manufacturing contribution to GDP from 16% to 25%. Industry leaders Vinod Kumar from PwC India and Srihari Kaninghat from JSW Group discuss how artificial intelligence (AI) is transforming manufacturing processes, enhancing efficiency, and attracting talent back to the industry.
- 01India's manufacturing sector needs to grow from 16% to 25% of GDP.
- 02AI is revolutionizing manufacturing by reducing costs and predicting machine failures.
- 03Industry leaders believe AI can attract top engineering talent back to manufacturing.
- 04Concerns about job loss due to automation are not a priority for industry experts.
- 05Successful implementation of AI requires moving beyond pilot projects.
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India is targeting an increase in its manufacturing sector's contribution to GDP from 16% to 25%. In a discussion led by Anirban Chowdhury, industry experts Vinod Kumar (PwC India) and Srihari Kaninghat (JSW Group) explore the transformative potential of artificial intelligence (AI) in manufacturing. They highlight how AI technologies are quietly revolutionizing processes such as steel production by slashing material costs and predicting machine failures before they occur. The experts emphasize the importance of moving beyond pilot projects to achieve meaningful advancements. Notably, they express optimism that AI can make manufacturing appealing again, helping to draw India's brightest engineering talents away from the IT sector and back into industry roles. This conversation aims to reshape perceptions of AI, moving beyond its common association with chatbots to its practical applications in manufacturing.
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The shift towards AI in manufacturing could lead to job creation and a revitalized interest in engineering careers, benefiting the economy and workforce.
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