South Korea’s SK Hynix aims to select a U.S. site for its advanced chip packaging plant and break ground there around the first quarter of next year, two people familiar with the matter said, helping the United States to compete as China pours money into the burgeoning sector.
By 2025, the manufacturing sector will breach the US$1 trillion mark, positioning India on the global manufacturing map. Even as the pandemic exposed the vulnerabilities of economies, it is time to analyse India’s manufacturing playbook and see it transition from Industry 4.0 to Industry 5.0, comprising smart artificial intelligence-enabled factories.
Evolving to smart manufacturing operations is not just about retooling facilities to support new equipment, systems, data and processes. It’s also very much about retooling the workforce to support digital transformation initiatives today and tomorrow.