Key Takeaways

• The utterly dissimilar strengths and weaknesses of India and Germany present an ideal platform for greater bilateral cooperation.
• While Germany plays a leading role in the development and applications of Industry 4.0 concepts and technologies in the manufacturing sector, it needs more IT skilled professionals which India possesses in abundance.
• India’s diverse and plentiful platform of demography is ideal when it comes to requirements of humongous human resources’ needs.
• The IT firepower of India and Germany’s advantage in the manufacturing sector offers many opportunities for the two countries to collaborate.
• There is a need for bringing institutions of higher education together from both countries, so that students can study both in India and Germany and can be given dual degrees, and are able to work in both Indian and German markets.
• India and Germany should further intensify the already existing partnership beyond Industry 4.0.
• Potential areas of collaboration between the two include the field of innovation of new and cost-effective products, cooperation in the Indo-Pacific and in promoting multilateralism.
• Industry 4.0 is important in achieving sustainability through greater digitalization.
• The areas highlighted include the importance of interoperability and cooperation, the need for proper digital infrastructure and the need to incorporate SMEs in digital processes for achieving inclusive growth.
• Industry 4.0 and its digital constituents such as IoT, 3D printing, and associated technologies are crucial for improving the competitiveness of Indian manufacturing units as well as for addressing the various challenges faced by them.
• AI could be a game changer which is still in the early stage of adoption.
• Accelerated adoption of AI in large scale units has immense potential as it can solve big problems through automating systems in the factory to managing whole supply chains.