Rethinking Manufacturing in India and Germany: Technology and Innovation for Sustainable Growth
The 3rd Annual Conference of the Indo-German Centre for Business Excellence on 13 October 2023 will focus on the challenges and opportunities brought during the convergence of manufacturing and ICT in the emerging Industry 5.0 era.
For the first time, the event will take place in India. After the Inaugural Annual Conference in 2021 and the 2nd Annual Conference in 2022 were hosted by Frankfurt School of Finance and Management on its Campus in Germany, Mahindra University, as a founding member of the Centre, will host the 2023 edition on its Hyderabad campus.
Conference participation is by invitation only and reserved for senior business, academia, NGO, and government representatives.
Ever closer business ties between Germany and India
Over the years, since the economic reforms of 1991, Germany has become one of India’s most significant trade and investment partners. Germany invested over $13.6 bn in India between 2000 and 2022 in electrical equipment, metallurgy, chemicals, construction, and automobiles. Over 1,600 Indo-German collaborations and six hundred joint ventures are represented in the Indian marketplace. As of 2022, over 213 Indian companies were operating in Germany in manufacturing, R&D and innovation, and services.
From Industry 4.0 to Industry 5.0
In recent years, the evolution of the Fourth Industrial Revolution or Industry 4.0 has seen the emergence of “smart” technologies such as artificial intelligence (AI), cloud connectivity, and real-time data analytics in industry and manufacturing. This has led to a transition towards efficiency, productivity, and integration of cyber-physical systems. Industry 5.0 adds to the digital transformation brought about by Industry 4.0 through efficient collaboration between humans and machines and systems within the digital ecosystem. Industry 5.0 focuses on a human-centric, sustainable, and resilient industry. This requires a significant shift in mindset, where humans and machines work together collaboratively and symbiotic.
India has increasingly become a favourable sourcing destination due to the easy availability of raw materials and resources, skilled workforce, improved infrastructure, advanced technologies, and supportive government policies. Apart from the larger companies, the German “Mittelstand” also uses Indian IT skills to set up technology centers for Industry 4.0 development and service functions. Germany, with its strong capabilities in manufacturing, can explore the opportunities of integrating the IT skills of the workforce and companies in India to take the step further towards harnessing Industry 5.0 together in different industries.
Co-Host & Premium Partner:
Attendance is by invitation only.
Are you a senior representative from business, academia, an NGO, or government and would like to participate? Please contact Prof. Debopam Chakrabarti via email.