It gives an immense pleasure to share that Industrial Products Finder’s maiden 3i EXPO - held on May 20-21 in Mumbai - evoked a huge response from the industry with senior representatives from some of the leading companies like Emerson, Godrej & Boyce, Aditya Birla Group, Reliance Industries, Mitsubishi Electric, etc visiting the event. IPF also presented the 6th IPF Industrial Excellence Awards to 19 SMEs across various industrial sectors during the event. We thank all the speakers, exhibitors, presenting partner MIDC and visitors for making 3i EXPO a grand success.

Since its inception in 1972, IPF has remained committed to serve the Indian manufacturers with business-relevant information to give them a competitive edge in the market place. With factories and products becoming smart and intelligent, there is a need to embrace latest manufacturing technologies to compete globally. Hence, in the quest to help Indian manufacturers (especially MSMEs) scale the next industrial revolution, IPF launched its first edition of 3i EXPO.

Globally, the smart manufacturing market - which refers to the digitisation of manufacturing at all levels: product design, supply chain, production, distribution, and sales - is expected to grow at a CAGR of 21.5 per cent from 2022 to 2029 to reach $ 446.24 billion by 2029. Indian companies are also gearing up to adopt advanced automation and Industry 4.0. At 3i EXPO, it was really fascinating to hear industry stalwarts disclose interesting facts and busting some of the myths about automation.

It is a myth that automation or digitalisation is costly. As explained by experts during 3i EXPO, digital transformation does not need big investments. Based on the business needs, one can invest incrementally to mitigate the problem faced by the company to improve efficiency. By embracing digital solutions, companies can take their businesses to the next level.

Today, automation and Industry 4.0 are buzzwords as these are a top priority for every business leader. They have brought a number of new disruptive technologies that have altered the approaches of delivering products or services. At the same time, one must realise that not everybody is navigating this digitalisation journey successfully. In fact, the failure rates are incredibly high. Only 5 per cent of people actually achieve what they set out to do and only 30 per cent of the anticipated value is captured.

Automation is a double-edged sword. If done properly, it will give rich dividends. If not, it can be a costly, loss-making investment. One must understand that automation is a means to an end, not an end in itself. Objective of every company should be to be competitive and ensure customer satisfaction, and automation is only a tool to achieve this objective. Choosing appropriate automation is the key to success.

So, Industry 4.0 is not an ultimate destination, but is a capability building journey. With the successful launch of 3i EXPO, Industrial Products Finder, along with all the key stakeholders of the manufacturing fraternity (especially MSMEs), has embarked upon another enthralling expedition that aims to make Indian companies competitive and emerge as the winner.

See you next year at 3i EXPO!