BENGALURU: Manufacturing industry experts expressed varying views with respect to the current economic situation and achieving Industry 4.0 in the country, while speaking at the ‘Make In India: Making it Work’ conference at Xavier Institute of Management and Entrepreneurship on Friday. R Mukundan, MD, Tata Chemicals pointed out that unemployment was a problem that needed to be addressed. “While Make in India is a good policy it has not been implemented well,” he said.
“The industry is in a state of de-growth. Automative, construction industry, mining, power, defence and aviation are showing signs of stress. Biotech, pharma and tourism have done moderately well on the other hand, along with IT and ITES which are doing exceptionally well. All these are unintended consequences of demonetisation,” he said.
Muthuraman, vice chairman of Tata Steel said that the current slowdown may help in the long run. “Selling Air India and the privatisation of railways is a welcome move,” Muthuraman said.
Deepak Kumar, CMD of BEML, said, “A slew of measures taken by the government with respect to MSMEs, Make in India and Digital India are good and we need to be patient.” “However, PSUs are being privatised and disinvested which is fine but who will do public procurement?” he added.