Need for newer technology in both manufacturing and energy sectors
New technology helps improve efficiency at all levels and therefore this thought. Therefore, India signing a free trade agreement with New Zealand is good news.
IT IS good to see that both India and New Zealand are embarking on signing a free trade agreement that should be beneficial to both the countries. On similar lines, India should also plan to enter into free trade agreements with other developed countries in the world.
The country needs modernisation of plants and new modern plants in both manufacturing and energy producing sectors. Fortunately, in Information Technology, the country is able to get access to cutting edge technology but the same should apply for both manufacturing and energy production sectors.
Along with the US, countries such as the UK, France, Germany, Italy and others from European Union should be approached in a big way for accessing latest in both manufacturing and energy sectors. Asian countries such as Japan, China should also be roped in a big way to help the country forge ahead in both manufacturing and energy sectors. India can sell its products globally that much easily if the same are produced through latest technical knowhow at competitive rates. Once manufacturing and energy sectors are modernised with optimum capacities the economy can be assured of a guaranteed sustained growth for years to come. If required a task force can be set up for formulating policies for achieving the above.
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