Analysis of the Major Drivers and Challenges of Industry-4.0 in India for its Adoption and Implementation

The Industry-4.0 is regarded as an inevitable revolution which covers a vast array of innovative technologies like; RFID, IoT, cyber physical system, advance robotics, big data analysis, cloud computing, digital ecosystem, etc.  It has been reported that Industry-4.0 has transformed the business of number of industries in India and across globe. Despite the efficiency of Industry-4.0 in revolutionising the industrial sector by its opportunities, its adoption and implementation is facing number of challenges.  The present study aims to investigate the major challenges and driving forces of Industry-4.0 for its adoption and implementation. Secondary data was collected to note down the various challenges and driving forces of Industry-4.0. From this surveyed data it was found that the major challenges and drivers of Industry-4.0 were classified as per business dimensions into five categories i.e., 1).  Organisational, 2). Legal, 3). Strategic, 4). Ethical, and 5). Technological. The major driving forces for the in the adoption of Industry-4.0 are; accuracy, agility, cost reduction, customization, efficiency, higher quality, load balancing in minimum response time, new business models, reduction of environmental impact, reduction of monotonous work. Furthermore, the surveyed challenges which are faced for the implementation and adoption of Industry-4.0 by the industrial sector of India were; Lack of finance, Infrastructure issues, issues related to management support, unavailability of skilled and experts, incompatibility to the change, issues related to legislation, improper policies, and lack of government support. Since Industry-5.0 is knocking on the door and still the principles of Industry-4.0 are not adopted and implemented in India. Thus, proper initiatives and schemes are required from the Government of India to assist the industries for the adoption and implementation of Industry-4.0.