During the launch of his book, “Engineered in India: From Dreams to a Billion-Dollar CYIENT,” BVR Mohan Reddy, founder of Cyient and former chairman of Nasscom, said that the country’s vigorous push on infrastructure development and shedding the archaic norms including traditional toll plazas management which is now fully automated, has helped in minimising the enormous productivity loss and environmental damage caused by long traffic lines in the past.
His new book takes readers on an entrepreneurial roller coaster and provides experiential evidence of what it takes to conceptualise and establish a global enterprise. It also provides practical lessons in customer-centricity, people management, and crisis management.
On the usage of next-generation technologies for modernisation, he emphasised that industrial automation is one area that must be examined in order to realise the full potential of industry 4.0, which is not yet at its peak. “This will involve significant modernisation of equipment and finding of right applications for positioning them together,” he said.
“For example, the smart mobile manufacturing companies in India have integrated sensors to monitor the health of equipment in real-time and prevent hefty losses in the event of a breakdown,” he explained.
According to Mohan Reddy, in conjunction with the industry 4.0 initiative, the healthcare sector in India is also seeing a considerable deployment. “With the introduction of cutting-edge medical technology, it is now possible to monitor one’s blood glucose without extracting blood,” he said adding that this illustrates the substantial progress of the industry 4.0 project in India, which will continue to grow in the near future.
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On the impact of 5G deployment on industry 4.0, he stated that the recent rollout of 5G services will play an elementary role in accomplishing the objectives of Digital India, paving the way for immense opportunities for different industry verticals.
“With almost zero latency challenges sectors such as telemedicine will witness significant transformations including increased adoption of remote real-time surgeries,” he said.
Sharing his thoughts on the expanding role of start-ups in innovation and indigenisation, he stated that while the start-ups ecosystem in India is not on par with the west, India has the advantage of leapfrogging to newer technologies, whereas the west has already invested heavily in established technologies and infrastructure and has not yet realised the full ROIs (return on investments).
“Since there are a number of local challenges in India that cannot be solved cost-effectively by global firms, such as ensuring that everyone has access to drinkable water, it is vital to foster an atmosphere that is favourable to the growth of local start-ups,” said Mohan Reddy who is also the founding director of the start-up ecosystem player T-Hub.