Govt. Launches 6 Tech Platform For The Global Competitive Manufacturing

Govt. Launches 6 Tech Platform For The Global Competitive Manufacturing

The Central Government of India, on July 2, 2021, launched 6 technology innovation platforms that aim to focus on the improvement of technologies for global competitive manufacturing in India. 

Prakash Javadekar, the Union Minister of Heavy Industries And Public enterprise launched this platform virtually and asserted that this innovation and high end technology are the pillar for development. He further said that this utility that has been formulated through innovation generates wealth for the country. In his tweet he said, 

Launched 6 technology innovation platforms that will help derive India-specific solutions in the capital goods sector.

“Innovation in high-end technology creates wealth for the Country. PM @narendramodi Ji has a vision and mission for enhanced investment in research & innovation.”

The Objective Of Launching This Platform For Global Competitive Manufacturing

The prime objective of launching this platform is that it will enable in bringing all the technical resources of India and the related industry in one platform to facilitate and kick start the identification of technical issues that are faced by the domestic industry and also crowdsource the same. 

Along with that, they are set to facilitate the improvement of key “mother” manufacturing technologies primitively through the huge challenge on the platform. 

The platform will also provide aid to the industries that include ORM companies, raw material producers, domain professionals or experts, R and D institutions, and also academia for giving technical solutions, suggestions, and also opinions on issues that involve the manufacturing industries. 

Now let us get introduced to a new term global competitiveness. It is defined as the ability of a nation to sustain higher rates of growth in the GDP (Gross Domestic Products) per capita. So with the launch of this platform, the position of India will rise in the global competitive manufacturing ranking chart. According to a report, India ranked in the 3rd position in the global manufacturing index 2020 among 48 other countries. And India’s rank in the global manufacturing index 2019 was 30th among 48 countries. And the report for the global manufacturing index 2021 is yet to come. So with these developments, we can expect a more steady growth for India’s global manufacturing index.

6 Tech Innovation Platform Details

The 6 tech innovation platforms have been created by the Central Manufacturing Technology Institute (CMTI), International Center for Automotive Technology (iCAT), IIT Madras, Automotive Research Association of India (ARAI), BHEL, and HMT in partnership with IISc Bangalore. Over 39,000 experts, students, institutes, industries, and labs have already been registered on these platforms.

Conclusion

The Central Government of India after launching 6 technology innovation platforms aims to focus on the development of technologies for global competitive manufacturing in India. It states that this will improve their position in the global manufacturing index and also among the global competitions.

Frequently Asked Questions On Global Competitive Manufacturing

1. What is meant by global competitiveness?

It is defined as the ability of a nation to sustain higher rates of growth in the GDP (Gross Domestic Products) per capita.

2. What are the requirements of global competitiveness?

The new process evaluates the 12 pillars of competitiveness: Infrastructure, Institutions, Technological Maturity, Health, Business Dynamics, Education and Skills, Macroeconomic Environment, Goods Market, Financial System, Labor Market, Market Size, Innovation Capacity.

3. Why global competitiveness has gained importance in today's time?

Global competitiveness has gained importance in today's time because of the increase in living standards and to keep the balance of trade between import and export of a nation. It is also important to gain macroeconomic stability for the purpose of the economic development of the nation.

Niccolo Romano

Niccolo Romano is an Italian writer who holds expertise in business, and startup related articles. He has a love for business news and is best in his niche.

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