August 23 Robotics Round Table will firm up govt-stakeholder partnership in high-tech domains P Rajeeve (Minister for Industries, Law & Coir, Govt of Kerala)
Trivandrum / August 17, 2024
In the last few years, Kerala has made remarkable strides in positioning the state as an ideal destination for enterprises driven by cutting-edge technologies. The State Government’s New Industrial Policy (NIP) has been the single most facilitator of this paradigm transformation.
Taking the clear-cut policy initiatives forward, the Industries & Commerce Department has planned a series of big-ticket events to present before the entire spectrum of stakeholders the core strengths of the ecosystem and further strengthen government-stakeholder collaboration. This chain of events will culminate in the Global Investors Meet (GIM) in Kochi in February 2025.
The International Conclave on Generative Artificial Intelligence (GenAI Conclave), organised in collaboration with IBM in Kochi last month, marked the first in this series. It turned out to be a resounding success creating resonance among business leaders, industry professionals and policy-makers about the huge potential Kerala holds in domains that define Industry 4.0
The GenAI Conclave was followed by a day-long engagement with entrepreneurs who have already made investments totalling Rs 12,000 crore, in various ongoing projects.
The next in line is the Robotics Round Table, designed as the second in domain-specific conversations. The day-long event is slated to be held on August 23, at the Grand Hyatt, Kochi.
No need to underscore the significant impact that Robotics is going to have on our day-to-day activities. Robots are designed and deployed to perform varied functions across sector, including manufacturing, healthcare, agriculture, logistics, defence, and entertainment.
Aligning well with its calibrated transition into a knowledge economy, Kerala envisages to be a hub of robotics, including design, development, manufacturing, and deployment of systems and technologies.
As per market projections, in 2024 the Indian robotics sector is expected to generate a revenue of around USD 531.10 million. Further, it is projected to grow at a compound annual rate (CAGR) of 12.18% from 2024 to 2028, reaching a market volume of USD 841.10 million by the year.
This growth has positioned India among the top ten countries globally in terms of annual robot installations.
The automotive industry remains the largest customer for robotics in India, followed by the metal, rubber, plastics, and electronics industries.
Kerala is eminently positioned to leverage the opportunities this boom promises.
Recognizing the transformative potential of robotics and artificial intelligence, the state has already started actively integrating them into various sectors like healthcare, agriculture, and industrial automation.
Based on the NIP, the government has spelled out incentives and supports to AI, Robotics and ventures driven by other breakthrough technologies, as identified among the 22 priority sectors for Kerala.
One of the prominent robotics companies in Kerala, Sastra Robotics based in Kochi, has gained international recognition, with export orders for nearly 160 robots from clients in the United Kingdom and the United States.
Another success story from Kerala is Genrobotics Innovations, which took off as a startup nurtured by Kerala Startup Mission (KSUM). Its manhole-cleaning ‘Bandicoot’ enjoys a global brand reputation, both on account of innovation and social impact.
Kerala is also home to several other innovative robotics companies, including Ai Aerial Dynamics, ASIMOV Robotics, EyeROV, Dexlock, Triassic Solutions among others.These companies highlight the vibrant robotics ecosystem in Kerala. The State's focus on nurturing innovation and providing support to startups has been instrumental in the growth of this sector.
Besides showcasing what the government has done to promote this vital sector, the August 23 Robotics Round Table in Kochi is envisaged as an open dialogue to ascertain from stakeholders what more they expect from the state facilitators.
The Government has an open mind as it believes that a win-win government-stakeholder partnership is vital as the enabler for growth of this transformative domain that significantly impacts our society and economy.
ENDS
