Different technologies needed industrialization programme

India needs to import a wide range of world class technology for the country’s fast-pace industrialization programmes supported by strong economic growths projected for the coming years, said a senior industry entrepreneur in Singapore.

“India has technology requirements in widely differing areas,” said Ramesh A. Vaswani, director and senior advisor at the New Delhi-based Intex Technologies (India) Pte Ltd.

India requires technologies for manufacturing a range of high quality defense equipment from aircraft, tanks, armored vehicles and others. The country also requires Electronics products and others to modernize agri sector, he pointed out.

“The best in class technologies from the world would help boost Indian manufacturing of defense equipment for domestic and export markets as well as increase yield on farms across the country,” he said.

Vaswani noted that a number of Indian industrial houses were already in discussions to acquire technologies, which would be good for the government’s initiatives such as “Make in India”.

He highlighted that Indian Government had taken effective steps to promote domestic manufacturing of electronics items, including mobile phones.

But Vaswani stressed the urgency of acquiring technologies, saying it would take time to absorb them, blend it with local advanced level of expertise, adapt to manufacturing processes, upgrade assembly lines and indigenize products to compete in the international markets.

The Indian government has liberalized the process of acquiring technologies, and as such opportunities should not be missed to import the best processes, expertise and knowhow, said the veteran of industries who has worked for five decades across many sectors and has hands on experience of working with knowhows of the mid-1960s.

“Today, the Indian economy is growing strongly with higher aspirations and increasing consumer demand while international markets have accepted and are keen to take on India-origin products.

“This is the moment to take the next big leap and lead in the international markets,” stressed Vaswani, pointing out that the economics of working on global markets were changing fast.

He also noted the government’s recent initiatives for acquiring advanced techniques for the agricultural sector.

“Being one of the world’s leading agricultural countries, India needs a wide range of expertise to improve yield, water management through irrigation, cold storage of produce and processing of agri products at source,” he elaborated.

Vaswani pointed out the wastage of a high rate of agri-produce and food due to lack of local facilities for storage and transportation.

But highlighted the government-initiated discussions with countries such as Israel which have advanced techniques and technologies for the agricultural sector.

“This will definitely help the farm sectors,” added Vaswani. fii-news.com

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