With foreign direct investment (FDI) of US$ 104.18 billion between April 2000 and December 2021, India’s manufacturing industry is rapidly evolving into an investment destination for global firms. India’s industrial base has been gradually developing over the last several years, thanks to initiatives like ‘Make in India’ and Atmanirbhar Bharat, which encourage local manufacture and assembly.

With a population of 1.4 billion people, India is the world’s second-largest consumer market. According to GlobalData, India’s manufacturing GDP is predicted to grow at a 9% annual rate (AAGR) in nominal terms between 2022 and 2026.

The India Smart Manufacturing Summit 2024 is bringing smart technology to its sponsors and delegates. Smart technologies are required to promote change in the supply chain, product design, and productivity, coupled with the emergence of  new objectives. The India Smart Manufacturing Summit 2023 is a platform for upgrading manufacturing more efficiently and intelligently.

At India Smart Manufacturing Summit 2024, you can see new products, talk to experts about the technologies required and the best ways to adopt them, and hear from other manufacturers about how they’ve used these game-changing technologies to boost productivity, reduce costs, and create new products. Any size firm should take advantage of this unique opportunity to learn about advanced technology and establish useful connections.

While the government has played a significant role in transforming India into a manufacturing hub by implementing policies and launching initiatives to make the process of establishing a manufacturing base in the country easier, the sector must keep a close eye on ways to capitalise on the opportunities. They must also be able to adopt cutting-edge technology that will enable businesses to remain ahead of the competition and take bolder moves toward a wealthy future.