India has potential to lead fourth industrial revolution: PM Modi
Kevadia (Gujarat) (PTI): Prime Minister Narendra Modi on Friday said India has the potential to lead the fourth industrial revolution and the government has worked on reforms to make the country a manufacturing hub of the world.
He said that the fourth industrial revolution is as much about new technology, as it is about innovative thinking.
"Due to various factors, India may have missed being a part of earlier industrial revolutions. But India has the potential to lead Industry 4.0, because, for the first time in recent history, we have many different factors like demography, demand and decisive governance coming together," he said through a message.
The Prime Minister's message was read by a Joint secretary of the Ministry of Heavy Industries here at the conference on Industry 4.0.
Modi added that the industry and entrepreneurs play a key role in making India a vital link in global value chains.
"We have worked on reforms and incentives to make India a tech-powered manufacturing hub of the world," he added.
Speaking at the event, Heavy Industries Minister Mahendra Nath Pandey said that the government is taking a series of steps to boost manufacturing through industrial revolution 4.0.
"India is moving towards becoming a hub of global manufacturing... 3D printing, machine learning, data analytics and IoT are key to promoting industrial growth," Pandey said.
He added that the production-linked incentive scheme for advanced chemistry cell (ACC) battery storage will help India in cutting down its imports and become an exporter in the coming years.
Companies selected under the scheme will receive incentives under the Rs 18,100-crore programme to boost local battery cell production.
The government has approved the Production-Linked Incentive (PLI) Scheme for the 'National Programme on ACC Battery Storage' for achieving a manufacturing capacity of 50 Giga Watt Hour (GWh).
The minister also flagged off 175 EV buses for Gujarat (75) and Karnataka (100).
He also inaugurated a Centre for Industry 4.0 (C4i4) Lab in Pune.
In 2019, Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II)' for the promotion of Electric Mobility in the country was approved. Through the scheme, it is planned to support 10 Lakhs e-two wheelers, 5 lakh e-3 wheelers, 55,000 4-wheelers and 7,000 e-buses.
With the advent of Industry 4.0, the new digital industrial technology, businesses are poised to benefit from the next generation of technological breakthroughs to improve quality, efficiency and productivity.
The Ministry of Heavy Industries has been making concerted efforts to generate awareness and to take forward Smart Manufacturing and Industry 4.0.
Participating virtually, Gujarat Chief Minister Bhupendra Patel said that the auto sector will hugely benefit from industrial revolution 4.0.
He further added that the production and promotion of EVs will help reducing carbon footprint also.
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Karnataka to introduce new affordable housing policy with EWS mandate for private developers
Bengaluru: Karnataka is drafting a new Affordable Housing Policy that may require private real estate developers to allocate a portion of their projects for economically weaker sections (EWS). This initiative is part of preliminary discussions aimed at addressing the state’s housing challenges.
The policy is being developed by the Indian Institute of Human Settlements (IIHS), an urban-focused research organization co-founded by Nandan Nilekani and Deepak Parekh. IIHS was chosen for this task without a tender process.
Housing Minister B.Z. Zameer Ahmed Khan's office has confirmed that discussions are underway to include a clause mandating private developers to reserve inventory for EWS buyers. At present, residential layouts are only required to allocate spaces for civic amenities such as parks and playgrounds.
The policy is a key component of Chief Minister Siddaramaiah's agenda for affordable housing. It aims to streamline procedures in the housing sector while ensuring inter-departmental coordination. It will replace the 2016 housing policy and is expected to help Karnataka secure additional funding from union government housing schemes.
Funding challenges have hindered the state's housing programs, such as the Chief Minister’s One Lakh Housing Scheme, where the per-unit cost of ₹11.2 lakh places a significant financial burden on beneficiaries. With banks reluctant to lend, the government faces an estimated ₹3,700 crore shortfall.
The state is evaluating two affordable housing models proposed by the Boston Consulting Group (BCG). The first model, the Land Sharing Model, involves the government providing land to private developers, who would dedicate 30-50% of the land to affordable housing. Once the housing units are completed, they would be handed over to the government for distribution, while the developers would monetize the remaining land.
The second model, the Interest Subsidy Model, suggests offering a 3-5% subsidy on home loan interest, which would reduce monthly installments for beneficiaries from ₹8,700 to ₹5,500-6,800. This approach is expected to cost the government ₹60-170 crore annually.
