India is a relatively new entrant in Industry 4.0. The Industrial Internet of Things(IIoT) market size is expected to be US$ 5 Billion( approx. Rs 32,343 crore ) by 2020 in India. Utilties, Manufacturing and Healthcare are expected to see the highest adoption levels of IIoT in India. The IIoT market size of utilities is expected to be around Rs 11,700 crore while for Manufacturing it is expected to be around Rs 2600 crore. A one percent gain in efficiency through deployment of IIoT could yield $90 billion savings in the oil and gas sector, $66 billion in the power sector.
Though, India needs to take strong and immediate steps to maintain its share in the global market. According to a holistic research by World Economic Forum, India achieved a low rank of 91, in terms of network readiness for Industry 4.0. The current need suggests heavy investments in the Automotive and Auto-component industry. India is expected to be the third largest automotive market by volume in the world, by 2026. Private players such as Hyundai, Suzuki, General Motors are keen to set up an R&D base in India. The emergence of large automotive clusters in the country: Delhi- Gurgaon-Faridabad in the north, Mumbai-Pune- Nashik-Aurangabad in the west, Chennai- Bengaluru-Hosur in the south and Jamshedpur-Kolkata in the east calls a need to have a proper skilling and training institute.
India has a low robot density of 2 per 10,000 employees. This calls for a higher level of interaction between humans and robots in order to achieve higher efficiency and quality management. A low number of patents related to Industry 4.0, merely 35, calls for a higher degree of investment in R&D. India needs to develop a more extensive data sharing and traceability network, M2M connectivity, which is quite low at 1.2%, compared to 27.8% in China and 17.8% in the United States.
In future, the concept of Industry 4.0 will be beneficial for Indian manufacturing sector. It can gain by increasing revenue and reducing costs.