Indian Manufacturers Embrace Industry 5.0 for Sustainability and Profitability
automotive, cement, chemicals, industrial goods, metals, and textiles and clothing.
The report highlights that over 50% of Indian manufacturers are prioritizing investments in sustainable practices this year. These investments aim to leverage digital technologies for adopting renewable energy sources and enhancing energy efficiency. The study found that executives believe their readiness for Industry 5.0 capabilities will enhance their revenues by an average of 6.42% over the next one to two years.
Industry 5.0 focuses on collaboration between humans and technology to drive sustainability and make production systems more resilient. This symbiotic relationship between humans and advanced technologies like AI, robotics, and IoT helps raise human productivity and opens new production possibilities that are automated, safer, sustainable, and resilient.
The study also found that 52% of top executives are allocating investments towards building a culture of lifelong learning. Sudipta Ghosh, Partner and Industrial Products Leader of PwC India, emphasizes that Industry 5.0 represents a defining moment for the manufacturing sector, creating a competitive edge for companies that fast-track their adoption of these capabilities. He believes that transformation is crucial for building a sustainable and resilient future with humans as an integral part of the journey.
This study suggests that Indian manufacturers are embracing Industry 5.0 as a key driver for both sustainability and profitability. By investing in digital technologies and fostering a culture of lifelong learning, they are positioning themselves for success in the years to come.