With the year 2020 now over and done with, what were some of your biggest learnings from the year? How will these learnings help you grow your market position in 2021?
The pandemic has brought in demand for automation for better work-life balance; the developments in welding technologies and the consequent need for newer skills will lead to the evolvement of highly dynamic & flexible working practices. As the fourth industrial revolution unfolds, now, companies are seeking to harness new & emerging advanced welding technologies to reach higher levels of efficiency of production & expand into newer markets and compete on new products for a global consumer base. Increased productivity in the manufacturing sector with intelligent welding power sources integrated with industrial robots & uniform quality of the output will be the order of the day.
What is your outlook on the current state of the industry? Do you foresee a change in market dynamics? In what ways are you expecting the market dynamics to metamorphose in the coming year?
India's growth in the fourth quarter of the fiscal year 2020 went down to 3.1% according to the Ministry of Statistics. The Chief Economic Adviser to the Government of India said that this drop is mainly due to the coronavirus pandemic effect on the Indian economy. The road ahead is clear that India's GDP is expected to reach US $5 trillion by FY25 and achieve an upper-middle income status on the back of digitisation, globalisation, favourable demographics and reforms. India is also focusing on renewable sources to generate energy. It is planning to achieve 40% of its energy from non-fossil sources by 2030, which is currently 30%, and have plans to increase its renewable energy capacity from to 175 gigawatts (GW) by 2022.
What changes do you intend to bring into your organisation to ensure it adapts to the evolving market competition and meets the changing customer requirements in the future?
In our organisation, we always have a customer-centric approach and when it comes to our products and solutions, we usually appear down to earth & are very reluctant to use superlatives. But they would be certainly justified every now & then because many of our inventions have had a pioneering role on the global stage – and this is still the case today and will always be in the future.
In the year 2021, what according to you will be some of the big ideas that would make their way into the market, in terms of advanced technology adoption, innovation, shop floor operations, workforce management, skilling, upskilling & reskilling, as well as supply chain management?
With 1,264 patents registered, it is easy to lose track of the most important innovations, the technological milestones and the development revolutions at our organisation. There are many product innovations that caused an outbreak of delight among our customers. The fact is that we have continued to invest a great deal of energy in research and development; numerous inventions are still in their infancy and in the next few years and decades, many more initial ‘wow’ effects will hopefully emerge. The best examples for 2021 and the way forward are the welding technologies, like Twin wire, Cold Metal Transfer and intelligent revolution welding technologies, which will be the future for WAAM- 3D Printing, Machine Learning and IoT in welding.