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India's Manufacturing Revolution: Why Advanced Tech is Key to Global Hub Status

India needs advanced technologies to strengthen its manufacturing ecosystem according to PHDCCI leadership. The chamber has signed an MoU with South Korea's Busan Chamber to enhance bilateral cooperation. This partnership targets key sectors including manufacturing, clean energy and digital technology. The collaboration aligns with India's vision of becoming a global manufacturing hub by 2047.

Key Points: India Needs Advanced Technologies for Manufacturing Ecosystem PHDCCI

  • India aims to become global manufacturing hub requiring advanced technologies
  • PHDCCI signs MoU with Busan Chamber for bilateral trade collaboration
  • Partnership focuses on manufacturing, clean energy and digital transformation
  • Indian market offers 1.4 billion consumers and 65 million MSME opportunities
2 min read

India needs advanced technologies to strengthen manufacturing ecosystem: PHDCCI CEO

PHDCCI CEO emphasizes advanced technologies for India's manufacturing growth amid South Korea partnership, highlighting Viksit Bharat vision and global hub ambitions.

"India is aspiring to become manufacturing hub of the world, so therefore, for this we definitely need good technologies - Dr Ranjeet Mehta, PHDCCI CEO"

New Delhi, November 4

India needs good technologies to build an advanced level of manufacturing ecosystem, according to Dr Ranjeet Mehta, CEO and Secretary General of PHDCCI.

Speaking to the ANI, Mehta said, "India is aspiring to become manufacturing hub of the world, so therefore, for this we definitely need good technologies, especially the kind of manufacturing ecosystem that is being built in India which is keeping in mind the vision of Viksit Bharat."

"India is one of the fastest-growing economies in the world, with immense opportunities for collaboration in manufacturing, clean energy, and digital transformation. With South Korea's advanced technology and India's growing manufacturing ecosystem, this partnership can foster sustainable and mutually beneficial growth," Mehta said.

The PHD Chamber of Commerce and Industry (PHDCCI) and the Busan Chamber of Commerce and Industry (BCCI), South Korea, on Tuesday signed a Memorandum of Understanding (MoU) in New Delhi to strengthen bilateral trade and industrial collaboration between India and South Korea.

The agreement aims to enhance cooperation in key sectors such as manufacturing, clean energy, digital technology, maritime logistics, and emerging industries, paving the way for increased business exchanges, investments, and knowledge sharing.

Mehta highlighted that Indian market, with its 1.4 billion people and over 65 million MSMEs, presents significant opportunities for Korean industries, particularly in manufacturing, clean technology, green transformation, and infrastructure.

Talking about the collaborations, Mehta added that the current delegation aims for meaningful partnerships that will enhance India's manufacturing ecosystem, aligning with the vision of "Viksit Bharat" by 2047.

Yang Jae Saeng, President, Busan Chamber of Commerce and Industry said, "It is truly meaningful to sign this MoU with PHDCCI here in Delhi, the heart of India. Busan is transforming into a global hub for smart logistics, EVs, and digital technology. India's rapid economic growth and strong manufacturing capacity present valuable opportunities for collaboration."

- ANI

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Reader Comments

R
Rajesh Q
Finally some concrete steps towards making India a manufacturing hub. The focus on clean energy and digital technology is crucial. Hope this MoU brings real results on the ground, not just paperwork.
M
Michael C
As someone working in manufacturing, I appreciate the focus on MSMEs. With 65 million small businesses, technology transfer and knowledge sharing can transform our entire industrial landscape. South Korea's expertise in EVs and smart logistics could be game-changing.
S
Shreya B
While I support such partnerships, I hope we're not just becoming an assembly hub for foreign technology. We need to ensure technology transfer happens and Indian companies develop their own R&D capabilities. Make in India should mean innovate in India too.
A
Aditya G
The clean energy focus is much needed! With climate change concerns, green manufacturing should be our priority. South Korea's advanced tech combined with India's scale can create sustainable solutions for the world.
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Nisha Z
Good move! But implementation is key. We've seen many MoUs signed that don't translate to actual projects. Hope this partnership creates jobs and boosts local manufacturing rather than just importing finished goods.

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