Current State Analysis of Indian Manufacturing Industry with Regards to Industry 4.0/5.0

Authors

  •   Samrat Ray Dean and Head of International Relations, IIMS, Pune
  •   Anil Varma Business Analytics, International Institute of Management Studies, Pune
  •   Rana Pratap Pal Dean (Academics), Calcutta Institute of engineering and management, Kolkata WB
  •   Elena Korchagina Peter the Great St .Petersburg, Polytechnic University, Saint Petersburg
  •   Laxmidhar Biswal Assistant Professor, IIMS, Pune

DOI:

https://doi.org/10.17697/ibmrd/2024/v13i1/173521

Keywords:

Industry 4.0, Industry 5.0, IoT, Internet of Things, ICT, Integrated Communication Strategies, RFID, ML, Manufacturing, Real-Time Tracking

Abstract

The present status study of the Indian manufacturing industry in the context of Industry 4.0/5.0 shows how the sector has evolved, its issues, and its opportunities as it undergoes digital transformation. Industry 4.0 began in Germany and is growing worldwide. New ICTs like the Internet of Things (IoT) and data analytics enable a major revolution in manufacturing. Industry 5.0 emphasises resilience, sustainability, and technology advancement while being human-centred. India has several industries, from clothes to autos. It's full of innovative ideas and methods. Implementing Industry 4.0 principles might boost efficiency, productivity, and competitiveness in numerous industries. Due to labour changes, skill shortages, and the environment, implementing new technology must be fair. The structured research employs an online poll and statistical analysis to assess the Indian manufacturing sector. The findings show that most organisations are only beginning to employ Industry 4.0 and differ in their development and agreement with Industry 5.0 aims. Despite achievements, there is still much to improve, notably in encouraging human-centeredness, resilience, and sustainability. The study emphasises ethics in research and practice, including informed consent, privacy, and transparency. Ethics-compliant research in Industry 4.0/5.0 enhances its validity and purity.

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Published

2024-03-30

How to Cite

Ray, S., Varma, A., Pal, R. P., Korchagina, E., & Biswal, L. (2024). Current State Analysis of Indian Manufacturing Industry with Regards to Industry 4.0/5.0. IBMRD’s Journal of Management & Research, 13(1), 37–48. https://doi.org/10.17697/ibmrd/2024/v13i1/173521

Issue

Volume 13, Issue 1, March 2024

Section

Articles
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Europe PMC

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