Delivering his address at the 12th edition of National Productivity Summit, organised by the Indian Machine Tool Manufacturers.
Noted industrialist and Executive Chairman of diversified business conglomerate the Murugappa Group, M M Murugappan, today said manufacturing companies are digitising operations to achieve efficiency and boost growth.
Delivering his address at the 12th edition of National Productivity Summit, organised by the Indian Machine Tool Manufacturers' Association here, he said India is poised to be one of the largest manufacturing economies in the world.
"Across India, companies are in the process of digitising their day to day operational functions to achieve efficiency and boost revenue growth and the Industry 4.0 will usher in an era of transformative manufacturing", he said.
Echoing similar views, UCAL Fuel Systems, independent director V Sumantran said "manufacturing units need to embrace modern technology including the Industry 4.0 to raise collective input".IMTMA President P Ramadas said it was imminent for companies to enhance competitiveness by reducing costs and improving productivity.