India´s operational inventory of business robots hit all time excessive.
Sales of business robots in India reached a brand new document of 4,945 models put in. This is a rise of 54 % in comparison with the earlier 12 months (2020: 3,215 models). In phrases of annual installations, India now ranks in tenth place worldwide. These are findings of the report World Robotics, offered by the International Federation of Robotics (IFR).
“India is one of the world’s fastest-growing industrial economies,” says Marina Bill, President of the International Federation of Robotics. “Within five years, the operational stock of industrial robots has more than doubled, to reach 33,220 units in 2021. This corresponds to an average annual growth rate of 16% since 2016.”
Today, India is the world’s fifth largest economic system measured by manufacturing output. According to World Bank knowledge, India´s manufacturing worth added in 2021 was USD 443.9 billion, a 21.6% improve from 2020.
The automotive business stays the biggest buyer for the robotics business in India with a share of 31% in 2021. Installations greater than doubled to 1,547 models (+108%). The basic business in India is led by the steel business with 308 models (-9%), the rubber and plastics business with 246 models (+27%) and {the electrical}/electronics business with 215 models (+98%).
Impressive potential for India
The long-term potential of robotics in India turns into clearer when in comparison with China: India´s robotic density within the automotive business, which is the variety of industrial robots per 10,000 staff, reached 148 robots in 2021. China´s robotic density hit 131 models in 2010 and skyrocketed to 772 models in 2021.
The Indian authorities helps progress within the industrial sector as one of many very important figures that have an effect on the Gross Domestic Product (GDP). Today, the nation´s GDP of about USD 3 trillion ranks in fifth place, head-to-head with the UK and France – behind Germany, Japan, China and the USA – the International Monetary Fund experiences.
Outlook for India
“As a result of the recent supply chain disruption, companies are rethinking their nearshoring strategies in Southeast Asia,” says Marina Bill. “India has traditionally been a popular destination for nearshoring in the manufacturing segment. The Indian government wants the country to be considered for new diversification options such as friendshoring, which is partnering with countries that share similar values and interests.”
The manufacturing sector can be anticipated to profit from the federal government’s initiatives to spice up its competitiveness and attractiveness for traders. The Production Linked Incentive (PLI) scheme, for instance, presently set to run till 2025, subsidizes firms that create manufacturing capability in India in robotic buyer industries like automotive, steel, prescription drugs, and meals processing.
Robots assist to create new jobs
New manufacturing capacities in India are an vital step to supply sufficient training and employment alternatives for its individuals: According to projections of the United Nations, India now has a inhabitants of 1,4 billion, surpassing China for the primary time. This signifies that India has a big and younger workforce that may drive financial progress and innovation. India is predicted to have the biggest working-age inhabitants on the earth by 2027.
International Federation of Robotics (IFR)
connects the world of robotics across the globe. We goal at selling the optimistic advantages of robots for productiveness, competitiveness, financial progress and high quality of labor and life.
International Federation of Robotics (IFR)
connects the world of robotics across the globe. We goal at selling the optimistic advantages of robots for productiveness, competitiveness, financial progress and high quality of labor and life.