Editorial

Emerging technologies in Industry 4.0 : Hope for Covid battling businesses

We battled the first wave of Covid-19 courageously and strived hard to bring the economy back on track, which had dipped to upsetting 7.3%. But then the second wave hit us in a more awful manner. Many of us lost our close ones in this wave. We pray for those departed souls and offer our deepest condolences to the families.

Though this second wave dealt a heavy blow medically, it did not affect the economy as miserably as it did earlier. The decision of the government to alter its lockdown strategy and relaxations to the industry played a crucial role here. The esult is, the economy is almost at its pre- Covid scale and grow. The lessons learnt in the first wave and the emerging technologies like Data Analysis, Artificial Intelligence, Machine earning, Internet of Things, 3D Printing, Virtual/Augmented Reality etc. have entirely changed the way the business is done today. So it is time to recalibrate the business strategies,  everage the emerging technologies and take advantage of the sops for the manufacturing and MSME sectors being doled out by the government like reduction of Corporate Tax to 22% and  5% for the new manufacturing units etc. 

Geo-political shift on the global horizon has also brightened the trade horizons for India and drives like ‘Local for Vocal’ and ‘Atmnirbhar Bharat’ have been fueling the Indian industry.  Today India is emerging very fast as a significant part of the Global Supply Chain and focus on export can infuse further momentum. Stainless Steel sector of the country has also witnessed enormous growth signs in 4.0. Time is to pick them and act. The future is promising.  With this, we extend our warm wishes to all.

Note: The second wave obligated us to cancel the  12th Indian Stainless Steel Houseware Show” in 2021 in compliance with the Covid protocols. Now, we have scheduled the “5th Indian Stainless Steel Pipe Show” from 9-11 July, 2022 in Chennai.