Bolstering startups with automation for a self-reliant Bharat

The automation industry in India is witnessing growth, fueled by the nation’s desire for self-reliance, the ongoing rise in digitalization, and pressures from inflation and labor shortages. Here are the key details from the article:

  • The technological advancements spurred by the pandemic are pushing many industries towards automation – a transition that holds potential to alleviate pressures in businesses and labor markets
  • Automation is pivotal in various sectors, including but not limited to logistics, manufacturing, medical, and pharmaceutical, by replacing routine jobs, improving product quality, and ensuring human safety
  • Adoption of new-age digital technologies like artificial intelligence, machine learning, and the Internet of Things, is transforming the Indian marketplace, with the Indian industrial automation market projected to reach USD 23.09 billion by 2027
  • Alongside the surge in automation, India has also seen a rise in private investments and startups which further fuels innovation in the field, with e-commerce and supply chain industries reaping significant benefits

Despite the visible challenges such as inflation, labor shortages and breakdown of supply chains, the digital shift in behavior is driving innovation and technology modernization in every industry and sector. Particularly, startups have been motivated to create modern technologies that address the market gap. The author, Sangeet Kumar, believes that this has provided businesses with a historic opportunity to alleviate pressures on both, the national economy, and labor markets without drastic effects.

As automation becomes widespread, businesses are also realizing the avenues it opens for reskilling and training employees for operating the new technologies or hiring skilled labor. This, according to Kumar, is likely to drive the next generation of startups that will combine human-machine workforce to transform workflows.

Automation also enables businesses to ramp up operations, differentiate from competitors, attain process efficiency, ensure quality and consistency, and reduce reliance on wage inflation. This is particularly beneficial to warehouses where autonomous robots and collaborative robots (Cobots) enhancing productivity of the human workforce. As consumer demands shift towards same-day or hourly deliveries, autonomous operations become an integral part of order fulfillment.

Furthermore, the Indian government’s support through initiatives and subsidies for Industry 4.0 and reskilling efforts has positioned startups to tap into the benefits of automation and new-age technologies. This, according to the author, is also beneficial to the government in its aim to create a self-reliant India. Challenges as a fallout of inflation may still remain, the author believes that automation can provide an avenue to navigate these challenges by creating opportunities to reskill, operate more safely and become more efficient.