The latest International Federation of Robotics (IFR) puts India at 7th position in the latest Robotic Installations worldwide in its report World Robotics 2024. Increasing 59% from 2022, sales of Industrial robots have reached 8510 units this year. Installations in the automotive industry had the biggest jump (139%) – accounting for a market share of 42%, with Plastic and Rubber and Metal industries following closely.
The potential for Robotics in India is clear when comparing the current statistics with those of previous years. However, the picture appears bleak when compared with China, which saw annual installations of 276,288 units in 2023, despite having a population similar to India’s. This represents a huge disparity – about 32 times higher than the current level in India – yet this difference can be reasonably attributed to China’s earlier push in industrialization and robotics. The recent policies regarding Industrial Automation and Robotics by the government are clearly leading India in the right direction, when we look at how the policymakers approach it. This contributes to consistent GDP growth, unaffected by the after-effects of COVID-19 in the nation's economy, which is expected to be 6.5% per annum in 2024 as reported by OECD. Industrial Robotic Installations likely to compound in growth in the coming years, according to the same report.
According the Economic Survey 2024, another report, India is
home to 13k startups in AI, IoT, Robotics and Nanotechnology. India has about
16% of the global AI talent pool which is a stepping stone to becoming a
leading player in the global AI race.
Similarly, the Automation Expo 2024, held in Mumbai by IED
communications Ltd saw 500 exhibiters and 50,000 attendees. Foreign delegates noted, as reported by several news outlets, that the expo demonstrates India’s strong push for automation, signaling a
golden era for the country’s industrial automation and AI sectors.
After COVID-19 and the trade skirmishes between the US and
China, many companies revisited their strategies and found India as a viable
alternative home for their manufacturing and supply chain needs. This is seen
as an opportunity by the government and policy influencers alike. As a hedge
against supply chain disruptions, India has already started accommodating
companies moving away from China foreseeing an uncertain future. This shift coupled
with the Make in India initiative and the subsequent surge in manufacturing
investment in the recent years contributed to India’s unparalleled growth in
the industrial automation sector.
That being the case, India still faces a critical challenge
in the context of Small and Medium Enterprise (SME) sector. Currently, capital
investment in AI and automation fails to justify the returns when compared with
manual labor. This may not be specific to India, but government
intervention in this regard is imminent.
