How to overcome barriers to Industry 4.0 adoption

Fourth Industrial Revolution Benefits

The pandemic only accelerated this transition as more corporates quickly realized the advantages of remotely managing industry operations backed by the right levels of cybersecurity. As a result, these companies kept their BCPs (business continuity plans) going notwithstanding lockdown restrictions and minimal access to their physical units.

Business Barriers and Inclusive Development

Given their position in fostering inclusive growth, it would intensify economic disparity if MSMEs skip the global journey of automation. MSMEs need to harness the resources provided by the government and business community in tackling this problem and work for the common cause in solving these challenges.

Conclusion:

In emerging economies such as India, inclusive development is particularly pertinent in addressing COVID-19’s impact. MSMEs are critical for ensuring that economically vulnerable people have suitable opportunities to rise above the poverty line. These cohorts include women, migrants, and minorities; who have a better chance of exiting poverty by taking up employment in MSMEs spread across India. The sector assumes a pivotal role in driving the government’s Make in India initiative for an Aatma Nirbhar Bharat.

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