 Deep tech and industrial revolution 4.2 is sort of bringing a paradigm shift in this entire manufacturing sector and if you look at trends like 5G, AI and robotics, dark factories, automation, mixed reality, metaverse, all of this is sort of driving a lot of deep innovation as well as a major change in the way they look at digital adoption. Post the pandemic, I think we have seen globally every organization is sort of adopting digitization to a great extent and if you look at India, things like Make in India or the PLI scheme is sort of pushing a lot of human centricity and sustainability which is sort of reflected if you look at the world economic forums based lighthouse certification which many Indian organizations have been receiving and to name a few it will be Tata Steel, Sipla, Dr. Reddy's and quite a few. And there are many more in the race as well. But having said that, is everything Hange and Dori? No, they are not. There are a lot of headwinds that this sector is also facing and if we can sort of name a few chip shortages, stress global supply chains, shortage of manpower and if you look at the MSME sector, capital availability or inability to come up with business cases is also another challenge. Even the delay in the launch of 5G is sort of delaying large scale adoption of digitization. So in that note, I have with me quite a few leaders today and possibly we will get a chance to get their thoughts around it. So let me start with you, Ravi. You know, we have been, you know, coming up with this question for quite some time about India being a manufacturing hub, right? And the technologies role in it. You being in contract manufacturing globally, you know, what's your take on, what's India's readiness, digital readiness to achieve that? Thank you for the question. It's a very intriguing question. Let's roll back 20 years. And hindsight is 2020. As a country, we focused more on services. We all know and we have prospered from it and we are good at it. However, our nearest competitor, China, focused on manufacturing and made manufacturing as its core strength. So we have 20 years to catch up and leapfrog China advantage and become the manufacturing hub of the world. It's possible. So some technology solutions like industry 4.0 platforms, digital twins, additive manufacturing and computer vision based quality assurance are very important because that our neighbor has mastered the technology of efficiency, mastered the technology, the core technologies like machining, injection molding, die casting, and they have vertically integrated clusters and their efficiencies are very high. That's why we cannot compete them today. We cannot compete with them on cost. So our founder, Arvind Malighiri, he had this vision almost 15 years ago. He started the aerospace cluster, which is completely vertically integrated, which means that the part has to travel only 500 meters earlier before our aerospace cluster was formed, the first of its kind in the country, the part would travel 5000 miles before it would get delivered. Now it travels just 500 meters within the cluster. So the concept of a manufacturing cluster vertically integrated then coupled with the innovations which we are good at, like you heard the previous sessions, everybody is well versed with the deep tech computer vision, AIML. So there has to be a kind of a marriage. Of course, whenever there is a marriage, there is some friction because the clock speed of manufacturing is much slower than the clock speed of technology. So when there is a marriage, there will be some friction, but the manufacturing sector has to step up and match the clock speed of technology. Then only the marriage will be successful. In ACUS, as a contracting manufacturer, we have to deliver precision quality delivery to the giants like Airbus, Boeing, Safran, Magellan, all the large aerospace companies. So we have to adopt the latest computer vision-based quality assurance systems. A lot of automation happens because of the consistency we need, the precision we need. Even then, we are not, as a country, mastered those core technologies. So with the combination or collaboration with the deep tech, I hope we bridge that gap. Thank you. Thank you so much. And we've always looked up to manufacturing sectors and did whenever there's been a crisis. So thank you so much for that. If I can come to Mr. Guru, you know, my next question would be technology adoption and value creation sort of go hand in hand. And you know, if you look at it, there are a lot of organizations globally who have been sort of trying to drive, you know, digital transformation, but possibly have not been able to create that end business value. Right? So according to you, what would be those success criteria for organizations to drive digital transformation successfully to sort of generate business value? Good. Thanks. So I'm Dr. Prasad. I had technology strategy for Bosch. Okay. So we are talking about digital transformation. We're talking about value creation and the centerpiece is manufacturing. Right? So if you look at any manufacturing as a scenario, one is you work on increasing the efficiency by x, y, z, which is you don't change anything, bring some additional technology tools process to increase the efficiency. So there are two dimensions in which we should look at one. These deep texts actually increasing the value of the product which is developed through some intersections. Second, these deep texts can actually bring you new products. So which means to say existing products value addition. Second is increasing the value through new production, new product itself. Now when you look at industrial manufacturing setup, you have a lot of uncertainties. For example, every OEM company will have its own product chain and every line will be dedicated for a particular part for manufacturing from a absolutely nothing to something on the table at the end of the line. At various level, you need to bring technology to bring value out of it. For example, when you say digital transformation, what is the outcome of digital transformation? One of it is enabling data. Right? When you talk about bringing efficiency, when you talk about bringing new products out of your manufacturing facility, there are a lot of decisions that we need to take at different layers starting from a leadership level to all the way to a plant manager level. And how these decisions are made is through digital transformation, which means to help take decisions which are data driven. Earlier it was experience driven, which was gut driven, which was market driven. Now it's purely data driven, which will increase the efficiency or the success rate of your decision. And this is where once you start the journey of a digital transformation, you need some time, some time to get that data to the layer to consume it. And once that consumption starts, value creation starts. So the takeaway after this last couple of minutes is, please do not think that you have a magic web, which can actually quickly give you a value creation immediately after digital transformation. It's a journey. Every company has to go through that journey, enable data to consume. And once the data is available, you can bring impact through the data with right decisions at different layers. To point number one, increase the efficiency. To point number two, bring new product with different values. Thank you so much for that. And Vipin, if I can come to you next. And I think you have been operating in the space of AI and IoT for quite some time. And I don't think there's anybody in this room who has not got their hands dirty on chat GPT, right? So what's your take on, you know, generative AI as a whole and its application for the sector, manufacturing sector? And in specific, what would be those defining use cases that you think generative AI will sort of come up with for industrial manufacturing? Sure. Thanks for that. So we are robots as a service company, right? So we've been around for five years. So we put robots out there to automate a certain part of the manufacturing process. So to answer your question, so one thing that we have been working on for some time, because our stuff, you know, someone earlier was talking about the development life cycle of some of these technologies, it takes some time to put these things out there that actually work. So one of the, so if you look generally at manufacturing, there's a huge scarcity of talent, right? People who understand how steel is made or let's say planes are made, you know, things like that, right? So there's increasingly scarcity of talent in the space. So the biggest value that AI can bring to manufacturing is kind of fill that gap, that scarcity gap, right, of the existing talent, because there's not a whole lot of people going into the space, right? It's not the sexiest thing to go figure out and learn, right, how oil is refined or how steel is made or whatever, right? So generative AI, you know, how do we, you know, get models that have understanding about physics and mechanical engineering and all of these disciplines and have the insight to almost operate a plant, troubleshoot the problems in a plant, come up with insights, you know, in real time, right? So if a lot of these plants are 24-7, you know, they have to be extremely capital efficient, you know, you put in hundreds of millions of dollars into a plant, you need it to be making a product and shipping product all the time, right? So if there's failure, how do you quickly, today if you need solutions, you probably have to call someone from Bosch and they'll, you know, parachute someone in from Germany or wherever, and these people are becoming increasingly scarce, right? Yeah, I'm sure there's a great talent in India as well. So that would be the best and the most urgent use case, right? And honestly, I don't see enough people solving for it, so it would be great to see more and more people spending, you know, the bosses of the world to be kind of solving for the scarce, the talent scarcity, right? Thank you so much. I'm sure a lot will evolve as we speak. If I can come to Mr. Sivartha now, I think, you know, we have been seeing a lot of large-scale industry 4.2 adoption across the industry and I think India has been a, you know, frontrunner in that with the amount of lighthouse certifications that you can see a lot of organizations, five organizations certified last year, five more in the race this year. So which are those sectors within the manufacturing industry which you see are really putting their big bets on large-scale, you know, industry 4.2 kind of, you know, executions? Thanks for the question. So when we think of sectors and when we look at lighthouse certifications, for those of you who don't know, it's led by WEF and it's a stringent set of criteria that you pass so that you become lighthouse certified. India itself might have a dozen as of now and now the focus has also shifted to sustainability along with operational efficiency and financial efficiency. So the obvious assumption we make is maybe sectors that have a close relationship with environment and resources. They are the ones who come to the fore but no, it's across the sectors. Now if you look at the ones that are already lighthouse certified, including those from India, there are FMCJ manufacturers, there are automobile manufacturers, there are electric companies and of course pharmaceuticals. So there are different sectors that are readily embracing industry 4.2 technologies and by nature itself they're embracing it in a way where they're transforming themselves or they're transforming the landscape. Now let's say if you look at automobile, for example, I shouldn't be talking automobile, co-sitting with a Bosch panelist, but let me try. So automobile itself, one of the conferences that I recently saw was you look beyond the factory, let's say you don't just look at the automobile manufacturer, you put data at the center of the universe and then the same data through APIs is consumed by the manufacturer, the service provider or rather the people who sell cars, people who service cars including the customers. So everybody consumes from the same ecosystem. So whatever we imagine as the center of the universe where you imagine the industry or the factory to be the center of the universe, that moved to the other side in the sense data itself became the center and that enabled a lot of things. Or if you look at the pharma industry, initially you look at everything as physical entities, right? Whether you're manufacturing and transporting drugs or I mean ingredients, most of the time these are physical entities. Now with the advent of IOT, all of these have become digital entities because that leads to increased transparency, auditability, traceability. Now even if you're manufacturing vaccines, you want to know whether right from the supply chain to the distribution chain whether everything was maintained at a certain temperature and there's no recall costs involved. So the industry photo technologies have made a lot of things possible which was not possible earlier and that has made sure that every sector embraces it early because it's kind of nice to get certified as well as nice to show that you are a beacon like the light of certification says. So I only see a lot of good things happening across the sectors including the ones that I just mentioned. Thank you so much Mr. Subhasa for that. Now I have a couple of other themes which I would like to place and get all of your thoughts. So there's been a significant increase in the focus of sustainability, right? Whether you call it ESG, focus on climate change and everything and this sector essentially is right in the front of various regulators when it comes to emissions and many other such standards, right? So my question to all of you would be that do you see organizations and all of your working have been driving a lot of manufacturing yourselves or working an ecosystem which is around that space. What according to you has been the area where you feel that sustainability is not really a mandate, right? Are organizations looking at it that way? Are organizations looking at sustainability more as a mandate or they're really looking beyond and trying to drive business transformation on the back of sustainability because there's a lot beyond just compliance, right? So I mean anyone if you'd like to pick up? Yes Mr. Guru if you can. So maybe I'll start say again sustainability has different dimensions for example one could be force driven like if you are compliant with this you'll get this this this but I would say when you look at any manufacturing company it always comes with pros and cons. You add value to society through a product but at the same time the inevitable carbon that we actually create will also negatively contribute to society. Now it purely depends on what kind of a directive or a philosophy that that company stands for. For example we as Bosch we have declared ourselves as carbon neutral in 2022 which means every investment that we are doing moving forward from 2022 will ensure that there is a clear vision of sustainability and very very low carbon footprint released to the market. I think it's more than a compliance if you ask me it's the philosophy with which we design our investments. When you say we are putting up a new plant in say Nasik earlier maybe 10-15 years back sustainability was not even a criteria and even today when you look at some quick startups just to give you an example when COVID came our Bidadi plant in Bangalore we could actually ramp up to produce two million masks in just three days. So which means one the agility of your business second the way you look at sustainability you cannot compromise both of them you cannot keep on changing your yardsticks just because you're not sustainable. At a larger vision sustainability should be one of the key indicators for a KPI of a manufacturing sector like revenue. Thank you so much that makes a lot of sense. Yes Mr. Ravi you would like to add? Sustainability is good for the society, good for the human race and good for the business. You cannot mandate sustainability. So as AECUS we have decided to be 100% renewable energy by 2024. So sustainability also makes good business. So if you really push the limits on renewable energy reducing the carbon footprint you can be profitable. Absolutely a lot of businesses can cease to exist if they don't focus on it isn't it. Right maybe you know one last thing and before we open up open it up for the audience to sort of ask a couple of questions I think we have spoken a lot about digitization transformation industry 4.0 and all of this has been you know sort of kick-started quite some time back but the pandemic sort of changed the entire focus isn't it right. So how has pandemic or this entire last two and a half three years if you look at it has sort of forced organizations to relook at their overall digital transformation strategy. If you look at deep tech themes or technology themes around digital transformation or any kind of stressed supply chains you know AI robotics or digital twins and a lot of other technologies coming into the foray. Are they really you know making organizations to relook at their strategies all over again. Mr. Srivatsa if you'd like to. I'll take that. So even when we were looking at industry 4.0 now shift the focus to the workers itself. You're looking at your workforce and they belong to a digital workspace. Now irrespective of what you're manufacturing what you're supplying they are part of a digital workspace and how effective are your digital workspace services that got tested with the pandemic. A lot of assumptions that we had a lot of arguments we had about remote working is possible or not within few months it had to change to how can we make remote working effective and then we had to change the hybrid workplaces here to stay. And the moment you did that your boundaries dissolved which means everything that you created as a part of an effective digital workplace had to tune itself to the hybrid workplace. All of your assumptions changed the way people collaborate changed the way people travel changed and the way people's problems got addressed changed and you saw innovation happening in every bit of it. How often would you travel to the office to collect your laptop earlier now? It would come to your doorstep irrespective of where you were and those are things that we never imagined could happen. All the things that we thought were not possible started happening thanks to COVID. That's what I would say. I'll put a word Bosch in India is close to 100 years. We just celebrated 100 years of celebration. From last 100 years post COVID we had only three regional offices in India. Thanks to COVID. So we have actually now added four in last two years. So we never knew that we could actually operate remotely with trust. So what has actually bought through COVID is actually trust. When I say I delegate a work to XYZ now the next day when I go back I go with the trust that that job job will be done. There's no micro management that I have to do now. So with this larger vision we could actually create four more new centers which are started with remote now hybrid in last two years which never happened in last century. COVID has actually accelerated some of the hypothesis that probably would have taken 20 years to realize in two years.