After a roller-coaster 2020, we expect 2021 to be the year of economic recovery, upbeat sentiments and demand revival, riding on newer technology and innovations. Going forward, industry across sectors need to be more self-reliant, efficient and attuned to technology to survive future adversities. Newer technologies like robotic and automation will be critical in driving the economy to pre-Covid levels and beyond. Budget 2021 should focus on enhancing productivity by incentivizing the use of technology to make India self-reliant and future-ready.
India has, so far, seen very low robot adoption compared to its regional and global peers. Timely policy interventions can accelerate robotic adoption in manufacturing and warehousing. Special focus should be on warehouse automation where we have seen an increase in customer traction.
Interventions are required on multiple fronts – boosting demand, accelerating technology development and building a conducive ecosystem. Reduction of customs duty/IGST and providing tax breaks/incentives to robotics adopters can boost demand. For accelerating technology and R&D, setting up of robotics centres of excellence/incubation centres, continued research grants for robotics R&D and continuation of income tax deduction will be the key drivers. This will boost the confidence of technology-driven industry players and strengthen the government’s Make in India for Global & Atmanirbhar Bharat vision, besides making a remarkable contribution to employment generation and will make Indian industry more efficient and surpass the global standard.
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