
Small and medium enterprises (SMEs) form the backbone of India’s economy, accounting for 30% of GDP and employing more than 110 million individuals. With India aspiring to be a manufacturing hub of the world by 2025, industrial automation through technologies such as robotics, artificial intelligence (AI), and Internet of Things (IoT) is revolutionizing the way companies work. Automation holds the promise of efficiency, cost benefits, and competitiveness for SMEs. Implementing these technologies is not without challenges, though. Here is an overview of the biggest challenges Indian SMEs encounter in industrial automation and workable solutions to overcome them.
- High Initial Costs
- Lack of Skilled Workforce
- Limited Access to Technology
- Existing System Integration
- Resistance to Change