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Time of India
a day ago
- Automotive
- Time of India
By 2035, AI-driven automation to boost manufacturing productivity by up to 40%: Report
By 2035, AI-driven automation is expected to boost to manufacturing productivity globally by up to 40 per cent, with artificial intelligence detecting defects at 90 per cent accuracy and improving quality control by 35 per cent., according to recent report by the ASSOCHAM-Odisha State Development Council in collaboration with Primus Partners . Additionally, the report also highlights that, AI adoption is likely to rise by 20 per cent, crossing 378 million users, getting major boost from the manufacturing sector. "AI is not just optimising manufacturing--it's redefining it. Globally, AI-driven factories have achieved up to 40% productivity gains and 90% defect detection accuracy. As India embraces Industry 4.0, Odisha stands uniquely positioned with 41.2 MTPA steel capacity, 55% of India's iron ore output, and a robust digital ecosystem," said Pankaj Lochan Mohanty , Chairman, Odisha State Development Council , ASSOCHAM. The report highlights that, last year about 35 per cent of global manufacturers were already using AI, with aim to not face issues in predictive maintenance, quality control, and supply chain management. Particularly, 54 per cent of Indian automotive companies have already adopted AI for smart assembly lines, predictive maintenance, and quality control, driving both efficiency and product quality. Additionally, AI is also being used to revolutionize drug discovery and compliance monitoring, automating batch analysis for faster and safer production. The report also reflects that, machine vision systems powered by AI enabling high-precision defect detection. The electronics industry is projected to reach USD 300 billion in value by 2026. Along with that "contributing 2.3 per cent to India's GDP, the textile industry is integrating AI for customized design, efficient cutting, and defect detection, boosting both productivity and export potential." "Artificial Intelligence is rapidly reshaping global manufacturing, with over 80 per cent of manufacturers already adopting AI across operations. Studies show AI can reduce defects by 66 per cent, cut material costs by 12.5 per cent, and speed up production cycles by 20 per cent," said Kanishk Maheshwari , Co-Founder and Managing Director, Primus Partners.
India Gazette
2 days ago
- Automotive
- India Gazette
By 2035, AI-driven automation to boost manufacturing productivity by up to 40%: Report
New Delhi [India], June 18 (ANI): By 2035, AI-driven automation is expected to boost to manufacturing productivity globally by up to 40 per cent, with artificial intelligence detecting defects at 90 per cent accuracy and improving quality control by 35 per cent., according to recent report by the ASSOCHAM-Odisha State Development Council in collaboration with Primus Partners. Additionally, the report also highlights that, AI adoption is likely to rise by 20 per cent, crossing 378 million users, getting major boost from the manufacturing sector. 'AI is not just optimising manufacturing--it's redefining it. Globally, AI-driven factories have achieved up to 40% productivity gains and 90% defect detection accuracy. As India embraces Industry 4.0, Odisha stands uniquely positioned with 41.2 MTPA steel capacity, 55% of India's iron ore output, and a robust digital ecosystem,' said Pankaj Lochan Mohanty, Chairman, Odisha State Development Council, report highlights that, last year about 35 per cent of global manufacturers were already using AI, with aim to not face issues in predictive maintenance, quality control, and supply chain 54 per cent of Indian automotive companies have already adopted AI for smart assembly lines, predictive maintenance, and quality control, driving both efficiency and product quality. Additionally, AI is also being used to revolutionize drug discovery and compliance monitoring, automating batch analysis for faster and safer report also reflects that, machine vision systems powered by AI enabling high-precision defect detection. The electronics industry is projected to reach USD 300 billion in value by 2026. Along with that 'contributing 2.3 per cent to India's GDP, the textile industry is integrating AI for customized design, efficient cutting, and defect detection, boosting both productivity and export potential.''Artificial Intelligence is rapidly reshaping global manufacturing, with over 80 per cent of manufacturers already adopting AI across operations. Studies show AI can reduce defects by 66 per cent, cut material costs by 12.5 per cent, and speed up production cycles by 20 per cent,' said Kanishk Maheshwari, Co-Founder and Managing Director, Primus Partners. (ANI)
Entrepreneur
09-06-2025
- Automotive
- Entrepreneur
Rare Earth Curb To Affect Smartphone Makers, Price Hike Likely: Experts
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. As new restrictions on rare earth magnets imposed by China are starting to choke India's auto sector – heavily dependent on the import of the magnets – another sector which can be affected in the near future is smart phones. Smartphone makers might try to absorb the hit for a while, but if disruptions continue, it can lead to price hikes or even delays in new launches. In smartphones, magnets made from Neodymium and Dysprosium are used in speakers and microphones, haptic motors, and camera modules for OIS, etc. China holds almost a monopoly in processing rare earth elements. These rare earth metals are specially used to make powerful small size magnets that are found in almost every smartphone's components like in speakers, vibration units and display systems. As China tightens exports citing national security reasons, it has effects across the world. The problem: Price hike, delay in new launches "For India, this could lead to delays in getting key components or paying more to source them. Right now the bigger impact is being felt by sectors like electric vehicles but smartphones may also face similar issues in the coming time," said Munish Vaid, vice president, Primus Partners. Most Indian smartphone manufacturers depend on global supply chains which trace back to China. Therefore, even if India is not directly buying the raw material, any disruption at the source will affect the country. "While some of the final assembly for these components happens in India, rare earth magnet assembly for OIS, haptics, etc., is done outside India. While the auto sector might face the immediate effect of shortages and supply chain disruptions. Smartphones, although using less volume per unit of these magnets, given the sheer volume of smartphones produced, could see fewer advanced features, supply chain disruptions, or increased costs if the issue persists," said Parv Sharma, Senior Analyst, Counterpoint Research. China's curbs on rare earth exports threaten not only India but also global supply chains. With China controlling about 60 percent of global rare earth mining and over 90 percent of processing capacity, countries are likely to face bottlenecks, despite efforts on localizing production. If the situation drags on, the costs of smartphones are likely to go up. "Smartphone makers usually plan ahead and have stock for a few months, but rare earth magnets are used in components like speakers and motors that are hard to replace on short notice. If Chinese exports slow down or prices rise, that added cost will eventually add up in the final product. It may not be huge at first, but for low-end smartphones, where margins are thin, these can either reduce margins for companies or consumers will have to bear the burden of price rise," explained Vaid. How can India seek immediate relief Indian OEMs and Tier-1 suppliers are likely to accelerate efforts to diversify rare earth sourcing from regions such as Australia, Africa, and Myanmar. In the short run, India should look at building reserves and sourcing from other friendly countries such as Vietnam, Malaysia, Russia or Brazil. These countries have rare earth deposits and are eager to reduce global dependence on China. India already has some rare earth reserves of its own. "We need to ramp up local processing and manufacturing capabilities. The government's production-linked incentive (PLI) schemes could be expanded to support this space. Also, we should invest in recycling, old smartphones and electronics contain magnets that can be reused if we set up the right infrastructure. At the same time, our manufacturers and tech companies need to innovate," Vaid added. "We expect a stronger push to develop domestic refining capabilities. The government may also ramp up exploration and extraction of rare earth reserves in Andhra Pradesh and Odisha to strengthen long-term self-reliance in critical materials," said Soumen Mandal, senior analyst, Counterpoint Research. According to IDC, in the first quarter of 2025, India's smartphone shipments reached 32 million units. The number of phones made in India every year is big, hence, even a small increase in component prices can add up quickly. "With newer smartphones packing in more features, like better sound, stronger vibrations and advanced displays, the reliance on rare earths is increasing. The impact may not be as huge as in cars, but it is something that could affect both pricing and innovation down the line," Vaid explained. There will be challenges in the near term to increase value addition in India — in the longer-run India will have to look for alternative sources — increase local production and recycle to de-risk from the global supply chain.
Fibre2Fashion
20-05-2025
- Business
- Fibre2Fashion
India's $100-bn textile export target hinges on MSME: Primus Partners
India's target to hit $100 billion in textile exports in five years revolves largely around how well the country can support and scale its micro, small and medium enterprises (MSMEs), according to a new Primus Partners report, which says textile MSMEs form the backbone of the industry, but are held back now by fragmented value chains, high costs, skill shortages and limited global market access. India accounts for just 4.6 per cent of global textile exports, while China's share is 48 per cent. Titled 'Roadmap for $100 Billion Exports in 5 Years', the consulting firm's report asserts that unlocking MSME potential is key to narrowing this gap and placing India among global leaders in textile manufacturing. India's target to hit $100 billion in textile exports in five years revolves largely around how well the country can support and scale its MSMEs, a Primus Partners report says. Textile MSMEs are held back by fragmented value chains, high costs, skill shortages and limited global market access. RMG and home textiles, accounting for 75 per cent of textile exports, are expected to benefit the most. While geopolitical shifts offer an opportunity for Indian firms, textile MSMEs must evolve to exploit this, the report points out. Readymade garments and home textiles, which account for 75 per cent of India's textile exports, are expected to benefit the most. The shift in sourcing patterns by global brands under the 'China Plus One' strategy makes India an increasingly attractive destination—if MSMEs can keep pace. MSMEs may be aggregated into formal clusters, like farmer producer organisations, enabling them to negotiate better pricing, adopt standardised practices and directly access global buyers, it recommends. These aggregations would also improve creditworthiness and streamline supply chain operations. However, a major constraint is skills. Only 15 per cent of workers in the textile manufacturing sector have received formal training, according to the National Skill Development Corporation. This contributes to a 20-30 per cent loss in productivity. Primus Partners suggests setting up dedicated training centres in tier-II and tier-III cities, especially where PM MITRA Parks are coming up, to bridge this gap. Finance remains another bottleneck. MSMEs often struggle to access affordable credit for modernising machinery or expanding operations. The report recommends expanding operational subsidies and employment-linked incentives to reduce input costs and boost competitiveness. Infrastructural inefficiencies, particularly in logistics, continue to inflate production costs. India's logistics costs stand at 14 per cent of GDP, compared to the global benchmark of 8-10 per cent. The report urges faster development of integrated supply chain parks and better port connectivity to support textile MSMEs in becoming export-ready. Trade access is also essential. While competitors like Sri Lanka enjoy duty-free access to Europe under the Generalised Scheme of Preferences (GSP), Indian exporters face tariff disadvantages. The report calls for accelerated negotiations of free trade agreements with the European Union, the United Kingdom, and the United States to make Indian goods more price-competitive. The report also stresses on the need to integrate textile MSMEs into the growing technical textile segment, projected to reach $274 billion globally by 2027. Fibre2Fashion News Desk (DS)
