Chairman, Pahwa Group and Managing Director, Bry-Air
Looking at the growing demand for Indian products internationally, is indicative of the fact that the ‘Make in India’ initiative has been progressing at a remarkable rate. In line with this, the Indian EV and pharmaceutical industries face the challenge of meeting rising demands, calling for the need for energy-efficient solutions like dehumidifiers.
Reflecting on a decade of the ‘Make in India’ initiative, the Indian manufacturing sector has made remarkable strides. Launched with the purpose of fostering indigenous manufacturing prowess in various sectors, including automotive, pharmaceuticals, and food processing, has resulted in significant advancements over the past ten years.
In its quest to become self-reliant, the country has been forging some breakthrough mergers and acquisitions in the manufacturing sector. Considering the automobile sector, global players have shown immense interest in establishing their manufacturing facilities in India. On similar lines, even electronic manufacturing has been experiencing a surge in investments, with major players proposing to set up their local assembly units in the country. All these factors are indicative of India’s rising prominence in the global supply chain.
TO STRENGTHEN FOOTHOLD IN THE INTERNATIONAL MARKET, IT IS IMPERATIVE TO CATER TO CUSTOMER SATISFACTION AND REDUCE THEIR FAULT CLAIMS AS MUCH AS POSSIBLE.
Looking at the growing demand for Indian products internationally, is indicative of the fact that the ‘Make in India’ initiative has been progressing at a remarkable rate. Where it was introduced with the intention of making the country self-sufficient, the initiative surpassed expectations, with foreign countries seeking Indian products for their high quality. Carrying forward the momentum, the industrial landscape is anticipated to be very encouraging, and the leading players are optimistic about India emerging as a manufacturing powerhouse in the years to come. In addition to this, with Indian products being sought across the globe, there is a unified hope that the country will become an export hub in the future.
Gauging the rising demand, the manufacturing market is expected to reach 1 trillion US dollars by 2025–26, according to the IBEF report. Understanding that some phenomenal milestones have been achieved over the years, there remains a lot to be done to reach the pinnacle of success. This places a lot of responsibility on the industries to curate products that are of supreme quality and meet the highest industry standards. To strengthen foothold in the international market, it is imperative to cater to customer satisfaction and reduce fault claims as much as possible. In addition to this, with industries across the realm undergoing rapid transformation, there is an incessant need to always customise the products with respect to ongoing trends in the market. Deciphering this need, industry players have understood the importance of customising products to maintain relevancy in the dynamic market. Along similar lines, where sustainability and eco-friendly approaches have been leading the conversation for some time now, even the manufacturing sector has been tailoring its equipment to curate energy-efficient products. Taking the example of the EV industry, Li-ion battery manufacturing plays a crucial role in contributing to the performance of the vehicle. As EV penetration has been shaping with much enthusiasm across the globe, battery manufacturers are acing their game by incorporating technologies with energy-efficient solutions. In this pursuit, industry players are perennially seeking energy-saving dehumidification systems to boost manufacturing in the most eco-friendly way. Reducing energy consumption immensely contributes to the efficiency of the company and, at the same time, minimises the pressure on the environment as well. As a driving example on similar lines, where India is being recognised across the globe as the ‘pharmacy of the world,’ there is a lot of responsibility on the pharma industry to increase the manufacturing of products to meet the rising domestic as well as the international demands of consumers while not compromising on quality. Quality air solutions empower the manufacturing of the highest quality pharmaceutical products, upgrading to energy-efficient dehumidifiers can serve the dual purpose of maintaining the quality of the product while curbing the humongous consumption of energy in the process. To further strengthen the positioning of the industry, the manufacturing sector has been embracing Industry 4.0 with alacrity.
It has been playing a crucial role in empowering the entire industry by enabling smart manufacturing of products. Where it is already shaping the industry, the advanced technology is expected to further lead the forefront in contributing to the resilience of the sector, auguring well for establishing the supremacy of Indian products across the globe. The futuristic technologies in the form of AI, machine learning, IoT, robotics, etc. have the ability to revolutionise the sector beyond automation tasks. The industry is working towards harnessing the benefits of technology to take manufacturing to the next level with remote handling, where troubleshooting, operation, and monitoring of the processes can be done even from a distant place. Moreover, by allowing for predictive maintenance, industry 4.0 can fortify the endeavours of the industry by identifying and controlling the damage in advance. While the country has produced some outstanding work during the ten-year tenure of ‘Make in India,’ there remains a lot of potential to be discovered. The industry has the ability to transform the entire productivity and efficiency of the country by integrating innovative approaches into its processes.