A joint study by the World Economic Forum and the Government of Andhra Pradesh identifies a USD 5 billion annual opportunity in the automotive and electronics sector in Andhra Pradesh
During the World Economic Forum, Sustainable Development Impact Summit in New York, the Hon’ble Chief Minister of Andhra Pradesh, Mr. Chandrababu Naidu, launched the findings of the project, “Accelerating Sustainable Production” in Andhra Pradesh. The joint study undertaken by the World Economic Forum (WEF), Accenture Strategy in collaboration with Government of Andhra Pradesh, identifies a USD 5 billion annual opportunity for the automotive and electronics sector in Andhra Pradesh enabled by Fourth Industrial Revolution (4IR) technologies for manufacturing.
The study highlights that 3D printing and digital traceability are emerging as strong technology solutions for the electronics sector. It also states that advanced automation through collaborative robots can bring significant value in improving workplace safety and worker efficiency in ‘factories of the future’. Relatively newer technology solutions like Augmented Workforce also present a promising opportunity as they gain more maturity and adoption.
Andhra Pradesh is the first region where World Economic Forum is working towards contextualizing their global study on ‘Driving the Sustainability of Production Systems with Fourth Industrial Revolution Innovation’.
The World Economic Forum and Government of Andhra Pradesh have agreed to work towards creating a platform for industry and Government to work together through the Andhra Pradesh Economic Development Board. The WEF will provide the global context along with Industry leaders and the State Government will provide the regional context to provide a platform to testbed these technologies.
“Andhra Pradesh’s efforts to transform its production industries will have a profound effect on the state’s economic competitiveness. We are excited to be continuing our collaboration with the government through our Shaping the Future of Production system initiative and look forward to leveraging the Forum’s platform for multi-stakeholder dialogue and action to help Andhra Pradesh achieve prosperity in the Fourth Industrial Revolution,” said Sarita Nayyar, member of the Managing Board, World Economic Forum.
Commenting on the occasion of the launch of the report ‘Accelerating Sustainable Manufacturing’, Mr. Chandra Babu Naidu, Hon’ble Chief Minister Andhra Pradesh, remarked “I am very happy that Andhra Pradesh is leading the 4IR by championing the idea of collaboration. We are in the era where success is determined through right partnerships. I am confident that this partnership will go a long way in successfully implementing technologies for sustainable manufacturing. Our aim is to create a model where global and local businesses would collaborate as the transition to Industry 4.0 happens.”
Andhra Pradesh continues its focus on developments related to 4IR technologies and leverage from global best practices as well as platforms such as the World Economic Forum. The State Government is looking at evolving its policy framework through the partnerships as well as stakeholder interactions which will help shape economic development agenda for the state.
The Hon’ble Chief Minister echoed the discussion between the WEF management team and Mr. Lokesh Nara, Minister for IT, Electronics and Communication of Andhra Pradesh in Tianjin on partnering with the soon to be launched Centre for the Fourth Industrial Revolution India. The Centre is partnering with the government of Andhra Pradesh and will bring together leading companies, academia, civil society and international organizations from around the world to co-design, test and scale-up policy tools, industry standards, norms and guidelines for governing 4IR technologies in the Indian context.
The State Government aims to adopt partnerships and collaborations that will help large corporates as well as medium scale organizations with access to newer technologies and leverage skilling platforms. Through this proposed partnership with WEF, Andhra Pradesh will also play an important role in helping the Centre for the Fourth Industrial Revolution India curate a trusted space where policy-makers, business executives, technology experts and other key stakeholders from both India and globally can convene to exchange insights on the latest technological trends and applications and help shape the future of the Fourth Industrial Revolution.
As the interaction between machines and humans increases, the skilling patterns would also require to be adapted adequately to keep pace in the dynamics of jobs of the future. The Chief Minister further added, “We are looking at a multi-stakeholder collaboration between industry, government and local training institutes to identify and impart relevant skillsets to its talent pool using 4IR technologies. With the advent of Industry 4.0, the employment landscape is bound to change significantly; there will be new job opportunities, increased labor productivity as well as widening skill gaps. The Government of Andhra Pradesh is committed to working closely with the Industry as partners in ensuring effective skilling and efficient workforce for the jobs of the future.”