The Bangalore Chamber of Industry and Commerce (BCIC) has asserted that India's manufacturing sector must increase its contribution to the country's GDP from 16.5% to 20% to achieve the ambitious export target of $8.3 trillion by 2047. During a manufacturing conclave organised by BCIC, discussions centred on technology-driven manufacturing for growth and prosperity. Key topics included affordable digitisation, automation, homegrown technology, sustainability, innovation, emerging manufacturing technologies, and potential opportunities.

The event brought together manufacturing industry experts, academia, and government representatives to deliberate on strategies to enhance manufacturing in Karnataka, underscoring the importance of adopting sustainable practices.

S Devarajan, President of BCIC and senior Vice President of TVS Motor Company, highlighted India's potential for achieving a growth rate of 8-10% by 2030 driven by the manufacturing sector. He emphasised the sector's pivotal role in the country's economic activity and noted signs of a revival after consecutive quarters of subdued growth. Devarajan stressed the low adoption of automation in India, calling for immediate attention and advocating a holistic approach that includes product, process, and sustainability considerations. He underscored the need for efforts directed towards enhancing energy efficiency and implementing a circular economy in manufacturing processes.

Gunjan Krishna, IAS, Commissioner for Industrial Development and Director of Industries and Commerce, Government of Karnataka, outlined the state's framework focusing on three key sectors: electronic component manufacturing, aerospace and defence, and employment-intensive sectors like textiles and electronics manufacturing. Krishna emphasised the government's commitment to emerging technologies and the importance of a skilled workforce. Balancing technological advancement with employment opportunities for India's growing population was deemed crucial. She highlighted ongoing government initiatives to improve industrial infrastructure, provide plug-and-play facilities, and streamline logistics processes for efficiency and cost reduction. Additionally, Krishna stressed the critical role of access to finance, technology, and efficient supply chains for the growth of micro, small, and medium enterprises (MSMEs).