Investigating the Measures of Sustainable Business Performance in Implementation of Industry 4.0 in Indian Manufacturing Industries: A PLS-SEM Approach

Environmental issues are arising due to adverse growth in population globally leading to affecting our environment negatively with many problems like global warming, resource depletion, climate change, air pollution, water scarcity, and many more, still academicians and researchers are not giving adequate attention towards environmental sustainability, particularly in considering the sustainable business performance measures to safeguard the environment and sustainability challenges. The present study tries to fill the research gap by investigating the impact of environmental, economical, and operational drivers on sustainable business performances in the context of Indian manufacturing industries. The significant drivers to support sustainable business performances are tested using data collected by descriptive survey in the time span of 2021-2023 and further analyzed using the PLSSEM approach through SmartPLS4 software. Results findings show that economical sustainable drivers highly influence sustainable business performance, operational sustainable drivers have a medium effect while environmental drivers have a low effect on sustainable business performance. The study offers several repercussions underlying the relevance of sustainable business performance in the context of encouraging Indian manufacturing industries to attain sustainability, the above research findings are also beneficial for academicians and researchers looking for improvements.