Industry 4.0 in India-A Study on Opportunities and Challenges

Abstract

In current situation, all industries are trying to stretch their arms all over the globe to become a strong competitor in industrial world. Industry 4.0 involves a wide set of technologies that provides a good platform for innovation and creative solutions. In order to implement such condition, it requires the utilization of advanced prediction tools that involves the conversion of data into information in a systematic process to explain uncertainties. This technology is an opportunity to change the economic rules of the industry. As we know India is in its verge of development. It is very important to understand India’s thrust towards “Make in Indiaâ€. Thus it is important for an India to adopt industry 4.0 technology and to get adapted to the same. This in turn contributes in the development of Indian economy. This paper addresses the impact of industry 4.0 technology in India.