AP eyes 36k-cr investment annually
A joint study of World Economic Forum WEF and AP government has estimated that there is a potential of more than Rs 36,000 crore worth annual business opportunity in automotive and electronics sector in the state from 2022 onwards
Amaravati: A joint study of World Economic Forum (WEF) and AP government has estimated that there is a potential of more than Rs 36,000 crore worth annual business opportunity in automotive and electronics sector in the state from 2022 onwards.
During the World Economic Forum’s Sustainable Development Impact Summit in New York, on Wednesday, Chief Minister N Chandrababu Naidu released the findings and released a white paper on, ‘Accelerating Sustainable Production in AP.’
For the first time, the State government released a white paper abroad; it is also the first in the country to do so. The joint study, undertaken by the WEF and Accenture Strategy in collaboration with state government, identifies a $5 billion annual opportunity for the automotive and electronics sector in AP, which enabled by Fourth Industrial Revolution (4IR) technologies for manufacturing. There are four chapters in the white paper:
industrial context in India, potential of Fourth Industrial Revolution technologies to help drive sustainability and competitiveness across production systems, value of sustainable production, and path to sustainable production.
The study highlights that 3D printing and digital traceability are emerging as strong technology solutions for the electronics sector. It also states that advanced automation through collaborative robots can bring significant value in improving workplace safety and worker efficiency in “factories of the future.”
Relatively newer technology solutions like Augmented Workforce also present a promising opportunity as they gain more maturity and adoption. AP is the first state in India, where WEF is working towards contextualising their global study on ‘Driving Sustainability of Production Systems with Fourth Industrial Revolution Innovation.’ The AP Economic Development Board (APEDB) will facilitate the study.
Chandrababu Naidu remarked on the occasion: “I am very happy that AP is leading the 4IR by championing the idea of collaboration. We are in the era where success is determined through right partnerships.
I am confident that this partnership will go a long way in successfully implementing technologies for sustainable manufacturing. Our aim is to create a model where global and local businesses would collaborate as the transition to Industry 4.0 happens.”
