In March 2021, the World Economic Forum (WEF) announced the addition of 15 manufacturing facilities to the prestigious Global Lighthouse Network. Two Indian companies were on the list – the Tata Steel facility in Jamshedpur, and the ReNew Power facility in Hubli. This is twice the number of Indian companies on the list last year. Many more facilities will likely be added to the WEF list, as several prepare to graduate their manufacturing businesses to keep up with Industry 4.0.
Digital manufacturing is the next wave of business globalisation, which, post-pandemic is not just blind automation to save costs but the smart use of digital tools to modernise industry and create good quality jobs. Digital manufacturing is the next leap for India’s tech leadership - the first being the software outsourcing movement in the 1990s. This time around, government incentives are aligning with industry interests. It offers India a chance to reposition itself globally, and play a leadership role.
Tata Steel is one of the few global companies on the prestigious Global Lighthouse Network for its advanced digital manufacturing systems - and the only Indian company on the list. The vision of a digitally integrated manufacturing facility was introduced when the Tata Steel Kalinganagar plant (TSK) was conceptualized in 2006. The subsequent implementation and continuous upgrade of the facility has made it a global benchmark. This case study on TSK's journey can guide other companies to overcome challenges in upgrading systems, using artificial intelligence and big data analytics to increase efficiency and drive innovation.
India’s e-commerce sector has shown resistance to the COVID-19 pandemic. This is a welcome outcome, and to ensure its success, strong regulatory policy in e-commerce is needed to ensure a level-playing field. This will benefit the customer and strengthen the Digital India and Make in India visions of the government. Can emerging markets look to India for a model e-commerce policy where the regulator has played a part, but not overregulated?
Hon’ble Ravi Shankar Prasad is the Minister of Law & Justice and Minister of Electronics & Information Technology at the Government of India. He delivered the Inaugural Keynote II at India’s second Gateway of India Geoeconomic Dialogue conference in Mumbai, organised in association with the Ministry of External Affairs.
Prime Minister Narendra Modi’s foreign travels combine domestic and foreign policy to achieve India’s twin goals of national security and investment inflow. The leader-as-salesman is not new, and India is just catching up with the global norm
Less than two years ago most Indians would struggle to name a Chinese company. Fast forward to the present, Chinese smartphone company Xiaomi is on the tips of everyone’s tongue. Chinese internet giants Alibaba, Tencent and Xiaomi have emerged as investors and major players in India’s fast growing e-commerce and internet space. Their emergence marks a new and exciting area of cooperation and engagement between India and China
India has used two-way trade targets as a proxy for judging the temperature of its key bilateral and plurilateral relationships. But a deeper understanding is needed of the extent to which physical targets can help accomplish qualitative objectives
Germany is a crucial partner for India, especially for the Make in India programme. The needs and strengths of both countries are complementary: in India, German companies are among the largest employers, and Germany is the second largest destination for Indian investment in Europe. India needs to develop and enhance the skill of its population, and develop an advanced manufacturing base. For this, a new level of collaboration is required.