BWI: The Indian Manufacturing Industry Slow in Adoption of Technology Compared to its Counterparts in Developed Economies – Frost & Sullivan

Press release from Business Wire India
Source: Frost & Sullivan
Friday, November 26, 2010 01:28 PM IST (07:58 AM GMT)
Editors: General: Consumer interest, People; Business: Advertising, PR & marketing, Business services, Information technology, Retailers; Technology
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The Indian Manufacturing Industry Slow in Adoption of Technology Compared to its Counterparts in Developed Economies - Frost & Sullivan
Frost & Sullivan hosted a MindXchange on Manufacturing IT on 25th November 2010, Hyatt Regency, Mumbai

Mumbai, Maharashtra, India, Friday, November 26, 2010 -- (Business Wire India) -- India has become a growth destination for several global companies. Organizations are becoming increasingly competitive on the efficiency and flexibility of their supply chains and not merely on their product features and quality. They have realized that being technology driven and updated is the key to compete in the global market. Currently, manufacturing as a sector in India is warming up to this idea of technology but the adoption is slow in comparison to its counterparts in developed economies. Lack of awareness of global technologies, and trends in Manufacturing IT has also contributed to this low adoption.

Frost & Sullivan's Industrial Automation & Process Control (IPC) Practice, in its endeavor to help manufacturing companies understand the need for IT adoption organized an exclusive Executive Congress titled "Manufacturing Excellence in a Flat World", on 25th November 2010, at Hyatt Regency, Mumbai.

According to Frost & Sullivan, enterprise, plant automation systems and supply chains can be seamlessly integrated using IT applications such as Advanced Process Control, MES, PLM, Energy Management and SCM, enabling greater operational visibility to the management and becoming a key differentiator amongst competitors. Large investments in both the process and discrete manufacturing industries will provide strong growth opportunities for the Manufacturing IT market in India.

Adoption of Manufacturing IT solutions in India has hitherto been concentrated in the Oil & Gas and Automotive sectors. However, Pharmaceuticals, Chemicals, Food & Beverage and Consumer Packaged Goods are expected to significantly increase IT adoption, thereby facilitating the Manufacturing IT market in India to grow in excess of 15 percent till 2015.

According to Niju V, Deputy Director, IPC Practice, Frost & Sullivan, South Asia and Middle East, "The Indian manufacturing sector is at an inflection point; this decade will define the country's surge to be an industrial and economic powerhouse. The manufacturing sector's contribution to India's GDP is expected to grow to 25 percent by 2020, thereby offering immense opportunities. IT- enabled technologies will lead the transformation towards manufacturing that will be built on the pillars of efficiency, high productivity, competitiveness and sustainability. India's Manufacturing IT growth presents opportunities and challenges for the industry, which was the focal point of our deliberations at the Summit."

The Summit focussed on knowledge sharing on topics, namely, Increasing Planning and Manufacturing Productivity through Digital Manufacturing; Business Imperatives for IT implementation in the Automotive Industry; Delivering the Brand - Product Lifecycle Management for Pharmaceuticals and Life sciences; End-User Perspective in the Pharmaceutical Industry; Importance of Information Security Risk Management in the Manufacturing sector: Role of people, process and technology in Business continuity and growth .These topics were presented by eminent personalisties like Mr. Sachin Sanghi, Siemens PLM; Mr. K. N. Swaminathan, General Manager-IT, TVS Motors;, Mr. Gururaj Bengeri, Head-Center of Excellence- Digital Lifecycle Management, Siemens PLM Software, India; Mr. Damodar Mantri, Associate Director, Dr.Reddy's Laboratories; Mr. Rajesh Huddar, Head Information Securtiy Practice Mahindra Special Services Group, respectively .

Further, it also gave end users a platform that provided insights and tools for actionable strategies for adopting Manufacturing IT. Participants learnt about the latest technologies and paradigms of IT's role in next generation manufacturing and productivity enhancement. Moreover, the summit also provided end-user perspectives on the drivers, challenges and path ahead for Manufacturing IT. Representatives from both discrete and process industries attended this MindXchange. Overall, it was a platform to ideate and evaluate the requirements from various end-user segments and evolve a roadmap for the adoption of Manufacturing IT, based on best practices across industries.

The summit received interest from end users like CIOs and CTOs, VPs and Directors of IT/Systems, Operations Management, Automation and Instrumentation, Engineering and Design, and Procurement Heads, Architects and Managers of Automation and Enterprise Integration, Plant Managers and Supervisors. Suppliers of Product Companies: PLM, PAM, Asset Management, MES among others, Automation Companies, ERP Companies, IT Service Providers, Energy Management Solution Providers and Wireless Technology Companies.

Siemens was the Gold Partner and the Media Partners for the summit were A&D India, Efficient Manufacturing, Engineering Review, Industrial Automation, Industry2.0, Search, Dataquest.Ciol.com, Machinist and Machinist 360.com.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 40 offices across six continents. To join our Growth Partnership, please visit http://www.frost.com



CONTACT DETAILS
Caroline Lewis, Corporate Communications - South Asia, Frost & Sullivan, +91 9821737935, caroline.lewis@frost.com
Nimisha Iyer, Corporate Communications - South Asia , Middle East and North Africa, Frost & Sullivan, +91 9820050519, niyer@frost.com

KEYWORDS
CONSUMER, PEOPLE, MARKETING, BUSINESS SERVICES, IT, RETAIL, TECHNOLOGY

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