Most MSMEs think that digital transformation is only for big corporates such as Toyota, Benz, Bosch, or TVS and not for MSMEs. The perception is that it is expensive, it needs extremely high technology, and MSMEs are not yet ready to adopt the same.
However, today - no manufacturing organisation can shy away from adopting a digital transformation process. Businesses need to strategise and act differently and learn to accept and embrace technology rather than delaying or resisting it.
We brought experts together to discuss how MSMEs in the manufacturing sector in India can be helped to embrace and accelerate industry 4.0. In the manufacturing ecosystem, there are some MSMEs who have embarked on this journey, taken concrete steps and have added value by implementing industry 4.0 technologies and some who are still trying to see what the initial steps are that can lead to such success stories. The aim was to bring both these kinds together and also analyse aspects of how the success stories can be learnt from and inhibitions can be removed.