Industry 4.0: Analysing Readiness of Indian MSME

MSME in India which are Small, Micro& Medium Enterprises (MSME) contributes 95% of industrial base, 45% of manufacturing output and 40% of employment in India. Hence, it is considered as backbone of Indian economy. During literature review it is found that several research studies regarding preparedness of industrial world for ‘Industry 4.0’were carried out in India but studies on specifically MSME sector are not conducted in developing economies like India. This research paper aims at addressing this research gap. This research study aims at ascertaining the awareness as well as preparedness of Indian MSME sector about the concept of ‘Industry 4.0’. Descriptive study was conducted for this research wherein online survey of 485 MSME units in India was conducted by convenience sampling method. Outcome of current research work will be useful for the MSME owners, policymakers, industry associations and financial institutions to design appropriate policies for their enhancement.