There is a need to expand the scope of the PLI scheme. By including labor-intensive sectors and those with strong linkages to MSMEs, PLI scheme could be a game changer for the manufacturing industry in India as it fosters innovation and will drive exports and employment generation.

India’s MSMEs are the backbone of our economy. Micro-enterprises lead the charge, accounting for nearly 98% of Udyam Portal registrations. These are the engines of job creation and technological innovation, fostering incremental growth. They are essential for economic development, providing vital employment opportunities.

The rise of digitization in procurement presents a unique opportunity for the automative industry to achieve greater efficiency, cost optimization and agility. By embracing these advancements, companies can build more resilient supply chains, strengthen relationships with suppliers, and accelerate innovation. 

Embracing AI-driven market analysis is no longer a choice but a necessity for companies seeking to maintain a competitive advantage in today’s dynamic marketplace. By proactively implementing these technologies, companies can unlock a wealth of valuable insights, optimize their operations, and achieve long-term success. 

As technology rapidly evolves, we foresee a significant shift in India’s manufacturing and infrastructure sectors. Moglix aims to contribute to this transformation by providing advanced supply chain solutions and fostering innovation in the manufacturing landscape. This exciting phase presents a unique opportunity for all stakeholders to collaborate and harness the power of innovation.

Transitioning to sustainable manufacturing requires a collective effort. Businesses need to invest in new technologies and processes, while governments can play a crucial role by enacting legislation that incentivizes sustainable practices and discourages environmentally damaging ones. Consumers also have a role to play by supporting brands committed to sustainability and making informed purchasing decisions. 

By empowering MSMEs, India can realize its vision of a robust trillion-dollar manufacturing sector, fueling economic prosperity and sustainable development

By prioritizing digitization and sustainability, automotive procurement teams can become powerful engines for positive change. They can ensure the smooth flow of materials, optimize costs, and deliver vehicles that are not only technologically advanced but also environmentally responsible. 

This National Technology Day, we honour the profound impact of technology, which is revolutionizing every domain. Whether it’s AI and ML optimizing manufacturing processes, data analytics fostering innovation in supply chains, blockchain bolstering security in e-commerce, or technology materializing ideas into viable startups, we are amidst a remarkable technological evolution.

India’s booming economy relies heavily on its logistics sector to sustain growth. Yet, this progress comes with a hidden expense: greenhouse gas (GHG) emissions. Businesses in India are confronted with the challenge of reducing their carbon footprint while managing freight costs effectively. The optimal solution should prioritize affordable freight movement, ensuring competitiveness for Indian enterprises in the long term. Moreover, it must minimize GHG emissions, aligning with India’s environmental sustainability goals and aspirations for net zero emissions. While achieving this balance might seem daunting, the perfect solution lies within reach.