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Developing an Industry 4.0 Readiness Model for Indian Engineering Industries

Author

Listed:
  • Sony, Michael
  • Aithal, Sreeramana

Abstract

For India to be a global economic superpower, the Indian Engineering Industry which at present is the largest foreign exchange earner must make its strong presence in the global markets. Industry 4.0 is one such initiative which has the power to transform the Indian Engineering Industry to be globally competitive along several strategic dimensions. Industry 4.0 is gradually making inroads and yet, there is no model to assess whether the Indian Engineering Industry is prepared to implement Industry 4.0. This study develops a multi-dimensional Industry 4.0 readiness model by analysing in-depth the extant literature. A theoretical framework for assessment is developed. Further, the developed model is qualitatively analysed using the ABCD framework. Practical application of Industry 4.0 readiness model in Indian Engineering Industries is discussed. This is the first Industry 4.0 readiness model developed for Indian Engineering Industries.

Suggested Citation

  • Sony, Michael & Aithal, Sreeramana, 2020. "Developing an Industry 4.0 Readiness Model for Indian Engineering Industries," MPRA Paper 102875, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:102875
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    File URL: https://mpra.ub.uni-muenchen.de/102875/1/MPRA_paper_102875.pdf
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    References listed on IDEAS

    as
    1. Sony, Michael & Aithal, Sreeramana, 2020. "Practical Lessons for Engineers to adapt towards Industry 4.0 in Indian Engineering Industries," MPRA Paper 102874, University Library of Munich, Germany.
    2. Frey, Carl Benedikt & Osborne, Michael A., 2017. "The future of employment: How susceptible are jobs to computerisation?," Technological Forecasting and Social Change, Elsevier, vol. 114(C), pages 254-280.
    3. Sony, Michael & Aithal, Sreeramana, 2020. "Transforming Indian Engineering Industries through Industry 4.0: An Integrative Conceptual Analysis," MPRA Paper 102872, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Sony, Michael & Antony, Jiju & Mc Dermott, Olivia & Garza-Reyes, Jose Arturo, 2021. "An empirical examination of benefits, challenges, and critical success factors of industry 4.0 in manufacturing and service sector," Technology in Society, Elsevier, vol. 67(C).

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    More about this item

    Keywords

    Industry 4.0; Readiness Model; Indian Engineering Industry; ABCD Framework; Industry 4.0 implementation.;
    All these keywords.

    JEL classification:

    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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