MOUNTAIN VIEW, Calif., June 10, 2015 /PRNewswire/ -- Frost & Sullivan hosted the quarterly EDI Council session on June 2, 2015 in Carlsbad, California in conjunction with the 11th Annual Manufacturing Leadership Summit. The Council session was a follow-up to a series of live and web conferences over the past year. It focused on two critical issues previously identified by the Council, namely smart development and attracting foreign direct investments (FDI). The Council also explored the interplay of manufacturing with these two important topics.
Frost & Sullivan Global President & Managing Partner, Aroop Zutshi, initiated the conference with a presentation that highlighted the importance of Industrial Internet of Things technologies for smart development. Presentations by economic development organizations highlighted best practices adopted by various governments amidst changing global dynamics to drive manufacturing, FDI and smart development. Presentation by ProMexico and Consulate General of Portugal were also well received by the EDI council. Several council members talked about the role of "Make in India" program and pragmatic approaches from Prime Minister Modi's government. As part of a workshop conducted during the conference, the Council discussed and recommended areas of focus for global governments on smart development and attracting FDI. The top recommendations included:
- Initiating national manufacturing branding campaigns to increase sector attractiveness
- Establishing business friendly environments
- Robust workforce development approaches
- Accelerating assistance for start-ups and incubators
- Logistics and digital connectivity
- Increasing use of analytics in manufacturing
- Encouraging workplace well-being, including focus on health and wellness
"These recommendations will -catalyze adoption of Manufacturing 4.0 approaches in accelerating a country's journey towards economic growth," said Frost & Sullivan Global Vice President of the Convergence Growth Innovation and Economic Development Innovation Program, Sath Rao. The conference also featured an interactive discussion on Manufacturing 4.0, the convergence between Industry 4.0, Economic Development Innovation and Visionary Innovation, with contributions made by special guests from the Manufacturing Leadership Council.
For more on Manufacturing 4.0, click here.
The EDI Council will convene next at Frost & Sullivan's flagship event, Growth, Innovation and Leadership (GIL) 2015: Silicon Valley, which will take place from September 16 to 18, 2015. The critical issues of innovation in education and affordable and disruptive healthcare will be discussed at this EDI Council session. To participate please send an e-mail to [email protected]
About the EDI Council
The Economic Development Innovation Council is a global body of Economic Development Organization (EDO) leaders who are committed to the growth and success of the EDO sector. The Council does this by uniting EDOs from across the world to deliberate on key global challenges, exchange best practices and share success stories. Click here to learn more.
About Frost & Sullivan
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SOURCE Frost & Sullivan