Industrial Internet of Things (IIoT) could be a game changer for India, but the country is lagging far behind China in its adoption, a top Accenture official has said.
According to the consultancy giant, IIoT refers to a universe of intelligent products, processes and services that communicate with each other and with people over the Internet and promises to be the most transformative industrial revolution yet for manufacturers.
While countries like Germany, France and China have made significant progress in terms of IIoT adoption, India has not yet moved much ahead in its IIoT journey, according to Saurabh Bhatnagar, Managing Director – Manufacturing, Accenture Strategy.
“In terms of IIoT adoption, in a scale of 10, if China would score 7, India’s would be about 3.5,” Bhatnagar told IANS, adding that according to an estimate; IIoT could be adding $14.2 trillion to the global economy by 2030.
“Indian manufacturers have been struggling to achieve globally competitive scale and productivity. While the industrial sector in India grew at a rate of six per cent annually since 2011 to more than $700 billion in 2016, the value addition per employee continued to be one of the lowest in the world, at only $6,000,” he added.
Having the right infrastructure in the Company which includes, high-speed Internet connectivity and skilled workers is to capture data and capability to analyse that data with Machine Learning is key to IIoT adoption, the benefits of which are many.
Source: Economic Times
