India’s mass of small family firms could miss the IIoT revolution

first_imgHow IoT Will Transform Cold Chain Logistics For… Electronic Design is Utilizing AI-Enabled Solu… Donal Power Few of India’s myriad family businesses have adopted any advanced manufacturing technologies like the Industrial Internet of Things (IIoT). And worse, most don’t plan to in the future.An article by Live Mint discusses the results of a recent survey by Tata Strategic Management Group and industry lobby group Federation of Indian Chambers of Commerce and Industry (FICCI).The study, which surveyed executives at more than 50 leading Indian engineering companies, focused on the adoption of advanced manufacturing technologies such as IIoT, advanced robotics and additive manufacturing. The survey highlighted these three areas of advanced manufacturing because of their anticipated role as major drivers for future manufacturing growth globally.The researchers found that only 10% of family run businesses have currently adopted any form of advanced manufacturing. However, future prospects for manufacturing are a bit better for family businesses, though these companies still will lag other types of businesses.“More than 50% of family-owned businesses do not plan to adopt advanced manufacturing within the next three years, in comparison to both Indian and foreign corporations where less than a quarter plan not to adopt in the three years’ time frame,” the report said.This economic backbone needs strengtheningAny numbers around family-owned businesses in India is especially significant as these types of companies form the backbone of the country’s economy. Such businesses comprise almost two-thirds of India’s GDP and employ nearly half of the country’s work force.India’s governments are proving keen on adopting connected technology to develop smart cities, but studies like this raise questions that some economic sectors are not keeping pace with the new technological revolution.Manufacturing remains a key sector of the Indian economy. It is responsible for employing nearly 12% of the country’s workforce and contributes almost 18% of India’s gross value-added production.Many obstacles to the adoption of advanced manufacturing technology were identified in the study. Chief amongst these perceived barriers is industry’s difficulty in quantifying its return on investment once the technology has been implemented.“The industrial internet of things definitely enhances ability of companies to receive real time information about plant equipment thereby reducing downtime and improving productivity,” said Forbes Marshall CEO Jehangir Ardeshir. “However, companies need to ensure that they build a solid business case and check feasibility before adoption.” Tags:#GDP#IIoT#India#IoT#manufacturing center_img The Ultimate Checklist on Ways to Prevent IoT D… 5 Industries Destined for Technological Disruption Related Posts last_img read more

Fracking can prime faults for subsequent quakes

first_imgHydraulic fracturing in western Canada can prime faults for earthquakes that strike months after fracking ceases, reports a new study published this week in Science. Although it has long been known that the injection of wastewater into disposal wells can trigger earthquakes by increasing pore pressure and destabilizing fault lines, rarely has fracking itself been identified as the source of tremors. Typically, fracking involves injections into impermeable rock layers that inhibit the spread of fluid and increase pore pressure. Looking at seismic records near Fox Creek, in northwest Alberta, where there are six drilling sites, researchers found an intermittent set of induced earthquakes between December 2014 and March 2015, clustered around fracking operations. The majority of seismicity occurred during fracking as the elastic response of the rock caused mounting stress. However the largest quake, which had a magnitude of 3.9, struck on 23 January 2015—2 weeks after fracking had been completed. The researchers believe that a limited recovery of fracturing fluids—one well retrieved only 7% of its fluids—pressurized a fault that extended down to the crystalline basement, resulting in the series of quakes over several months. In the future, they say, drillers should take account of such risks, especially when they fail to recover fracking fluids.last_img read more

PBA Season 43 Preview: Without marquee players, Kia to bank on sheer work ethic

first_img‘A complete lie:’ Drilon refutes ‘blabbermouth’ Salo’s claims Kia may not have the most star-studded of lineups in the PBA, but the Picanto have a sheer force of will to rely on.“We’re realistic in knowing that we may not have top tier guys but what we have are the hardest workers in this league and I can attest to that hard work,” said Gavina. “We’re envisioning our team to be highly-disciplined and to be defensive-minded.”FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games openingGavina hopes that their sheer level of hard work would be able to make up for their lack of talent.“We cannot be normal, our effort and activity level has to be in an extraordinary pace in order to overcome the discrepancy in the level of talent with other teams.” LATEST STORIES Sports Related Videospowered by AdSparcRead Next The Fatted Calf and Ayutthaya: New restos worth the drive to Tagaytay Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Jordan delivers on promise: 2 Cobra choppers now in PH After 30 years, Johnlu Koa still doing ‘hard-to-make’ quality breads Hotel says PH coach apologized for ‘kikiam for breakfast’ claim MOST READcenter_img Malditas save PH from shutout Head Coach: Chris GavinaKey Players: Reden Celda, Glenn Khobuntin, Jackson CorpuzKey Additions: Ronald Tubid, JayR Reyes, Jon GabrielKey Losses: LA Revilla, Jason BallesterosADVERTISEMENT View comments Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ MRT 7 on track for partial opening in 2021 Don’t miss out on the latest news and information. And supplementing that pure will to win, and unadulterated potential hustle, is the influx of a championship mentality from former San Miguel Beermen JayR Reyes and Ronald Tubid.The two, together with Rashawn McCarthy, were acquired days before the 2017 Draft wherein the Picanto gave up the no.1 pick that turned out to be ABL standout Christian Standhardinger.Gavina hopes the former Beermen’s presence alone would be an enough influence to uplift the team’s mentality after suffering in the scourge of last year’s Philippine Cup when Kia, then known as Mahindra Enforcer, finished 3-8.“The San Miguel guys that came over brought tremendous character and that championship experience is invaluable to our younger guys,” said Gavina.“They can teach them how to get to that championship level, the ability to relay that championship focus and effort in practice will be of great help to us.”ADVERTISEMENT PBA Season 43 Preview: Pressure to dominate still fuels San Miguellast_img read more