India Inc urges new technology to transform manufacturing
Mumbai : Indian industry leaders on Sunday stressed the need to bring in new technology into the country's manufacturing, rather than depend solely on cheap labour, to make the Make In India initiative a success.
 
"There will be migration of large-scale low cost factories from China to India. But that shouldn't be the only manufacturing India does," Mahindra & Mahindra chairman Anand Mahindra said at the CNN Asia Business Forum held as part of the ongoing Make India India Week here.
 
"Is there going to be a disruption in the way we 'Make in India'. Manufacturing should be democratised and decentralised," he said.
 
"India has a track record of seting up world class cement, textile factories and oil refineries. We have to take India to the next level," said Kumar Mangalam Birla, chairman of the Aditya Birla Group.
 
"New skills such as use of algorithm remote sensing must be used in manufacturing to remain constantly contemporary," he said.
 
"We as a country are highly innovative. It is part of our DNA," added Birla.
 
Describing India as a "highly innovative place," American multinational General Electric's South Asia chief executive, Banmali Agrawala, said: "We're pressing the pedal on getting digital."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Fire engulfs 'Make In India' cultural show in Mumbai
Mumbai : A massive blaze on Sunday evening engulfed the performance stage during a cultural extravaganza at the 'Make In India Week' event here, officials said. There were no casualties.
 
The fire broke out during a performance of Maharashtra's Lavani folk dance at the mega event at Girgaum Chowpatty beach, the BMC Disaster Control said.
 
The fire which broke out around 8.15 p.m. was brought under control in about an hour.
 
At least 14 fire tenders and 10 water tankers were rushed to the site. The stage was completely burnt down and the show was stopped midway.
 
Maharashtra Governor C.V. Rao, Chief Minister Devendra Fadnavis and his wife Amruta Fadnavis, Shiv Sena chief Uddhav Thackeray and his wife Rashmi Thackeray, actors Amitabh Bachchan, Aamir Khan, Hema Malini, Katrina Kaif, Vivek Oberoi, Isha Koppikar and Shreyas Talpade, ministers, parliamentarians, legislators, and other prominent personalities witnessing the performance were shifted to safer places.
 
The BMC said the fire could have been caused by an electric short-circuit.
 
Fadnavis termed the incident sad and said a comprehensive probe will be ordered and those responsible for it would face action.
 
He confirmed that there were no injuries or casualties and all artistes and guests were evacuated safely.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Railways to invest Rs.9,800 crore on Mumbai-Ahmedabad bullet train
Mumbai : Indian Railways announced on Sunday it will invest Rs.9,800 crore in the bullet train project along the Mumbai-Ahmedabad corridor.
 
The train, that would run at speeds of 300-350 kmph, would be mostly funded by the Japan Investment Co-operation Agency (JICA) which would provide 81 percent of the investment as loan at an interest rate of 0.1 percent, Railway Board chairman A.K.Mittal told reporters here on the sidelines of the ongoing Make In India Week event.
 
The loan will be spread over 50 years and will have a moratorium of 15 years, he added.
 
Besides, 20 percent of the components will be sourced from Japan, but will be manufactured in India.
 
Mittal also said that the railway board has identified the Bandra-Kurla complex as the location for railway station in Mumbai.
 
"The station will be constructed three levels underground and hence will not hinder the financial centre that is being planned in the same area. In fact, a high-speed rail will improve the valuation of the land," he said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

mohan

9 months ago

Whether it is really required

Instead money can be better utilised in improving service in city like Mumbai where rail service is used by crores of people and daily many commuters are losing life because of overcrowding, poor condition of platforms etc.

New links can be developed like Bandra - Kurla, Thane - Borivali.

Bullet train is definitely not priority where huge investment is required & also requires very long period.

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