India ranks 46th in the Global Innovation Index in 2021 by the World Intellectual Property Organisation, and occupies 63rd place in Age of Doing Business as per the World Bank Ease of Doing Business 2020. Several factors have made India conducive for global investments. It’s not just the diverse business landscape or the fact that the country is one of the world’s fastest growing economies. The Government of India (GoI) has chalked out policies for economic growth. A case in point is the Make in India initiative and Production Linked Incentive scheme (PLI) among others. The Ministry of Heavy Industry & Public Enterprises has rolled out an Industry 4.0 initiative titled SAMARTH Udyog Bharat 4.0. The endeavour is a step towards the creation of a sustainable ecosystem for leveraging Industry 4.0 set of technologies in every Indian manufacturer by 2025, from multi-national corporations to large, medium or small-scale Indian companies.
The country is home...