Challenges to Industry 4.0 Initiatives in SMEs: A Case Study of Automation and Robotics Manufacturing Industry

Abstract

With advancement in Internet and communication technology the world in driving ahead with Industry 4.0 buzzword. The fourth industrial revolution has tremendous potential to drive any economy towards success through it technology and business model offerings. India has become the most favourable manufacturing destination and Make in India strategy coupled with Industry 4.0 initiatives till the grassroots level can make the country leap frog with transformation journey in new industrial revolutions, fortune of foreign investments and opportunities to create economic value in uncertainties of global economy and volatile market. Therefore, it seems important to realise potential drivers of economy and limitations in implementing Industry4.0 initiatives in business practices. Towards this, the study highlights the importance of Industry 4.0 to micro and small scale businesses and follows case study methodology of automation and robotics manufacturing industry to evaluate challenges to entrepreneurship in journey of transformation to I4.0 practices. The findings reveal more than the technological challenges to its implementation, behaviour and human resource are major hurdles in preparedness to revolutionary process of industry upgradation. The study further identifies the role of all collaborating partners in the value chain of these SMEs and discusses the implication for future scope.