‘Industry 4.0’ concept opens opportunities for industrial growth

Tribune News Service
Mohali, December 6

With ‘Industry 4.0’ unleashing a new industrial revolution, focused on technological investments, Punjab has opened a new wave of opportunities for industry in the state.

Setting the tone for ‘Industry 4.0’ session of the Progressive Punjab Investors Summit (PPIS) 2019, centred on theme of ‘Punjab: Changing Gears for Industry 4.0’, Principal Secretary, Science, Technology and Environment, Punjab, R. K. Verma said the state government was facilitating the investment and growth of technology, under the Industrial and Business Development Policy 2017, to keep pace with the revolution.

The panellists in the session included Raj Kiran, India Head IoT/AI Business, PTC; Chandan Chowdhury, Senior Associate Dean, ISB Mohali; Anup Wadhwa, Director, Automation Industry Association; and Pankaj Goyal, VP- Eco Struxure & Digital, Schneider Electric. The panellists shared their ideas and spoke about the technologies that could be used by the industry for the growth of production /quality enhancement etc.

Focusing on the MSMEs, the panellists appreciated that the growth of economy in the State of Punjab was contributed by about 2 Lakh MSMEs and approximately 500 Large and Medium Units. The presence of strong Textile, Food Processing and Light Engineering sectors makes the industrial scenario a vibrant platform, they said.

The ‘Industry 4.0’ concept focuses on the modernisation of manufacturing process through integration of advanced technologies and physical production elements. It creates a fully digital value chain by the simultaneous use of communication, IT, data, physical elements etc. 

Harish Chawan, CEO, Swaraj Tractor, shared his experience and appreciated the efforts made by the Punjab Government in promoting the latest technology for the growth of industry, particularly MSMEs, as well as the initiatives taken by the Government for promoting Ease of Doing Business.

Sushant Rabra, Partner, KPMG conducted the session effectively with active participation of about 80 prominent persons, including MSMEs, IIT, Ropar, Thapar University, Chitkara University and other experts in the field of Industry. Karunesh Garg, Member Secretary, Punjab Pollution Control Board, proposed a Vote of Thanks to the panellists.

Among other dignitaries present on the occasion were Vini Mahajan, ACS, Industries and Commerce; Rajat Agarwal, CEO, Investment Promotion; Vaneet Kumar, AMD; and Vishav Bandhu, Deputy Director, Industries and Commerce.