India Seeks Advanced Technologies to Enhance Manufacturing Ecosystem, PHDCCI CEO Says
Dr. Ranjeet Mehta, CEO of PHDCCI, emphasized the need for advanced technologies to build a sophisticated manufacturing ecosystem in India, aligning with the vision of Viksit Bharat by 2047. A recent MoU between PHDCCI and Busan Chamber of Commerce aims to strengthen bilateral trade with South Korea, focusing on manufacturing, clean energy, and digital technology to foster sustainable growth.
Dr. Ranjeet Mehta, CEO and Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI), highlighted India's aspiration to become a global manufacturing hub, which necessitates the adoption of advanced technologies to elevate its manufacturing ecosystem. He stressed the opportunities arising from India's large market of 1.4 billion people and the presence of over 65 million MSMEs, which present significant potential for collaboration, particularly with countries like South Korea. To this end, PHDCCI and the Busan Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU) in New Delhi to enhance bilateral trade and industrial cooperation. This agreement targets key sectors such as manufacturing, clean energy, digital technology, maritime logistics, and emerging industries, aiming to increase business exchanges, investments, and knowledge sharing. South Korea's President of the Busan Chamber, Yang Jae Saeng, noted Busan's transformation into a hub for smart logistics, electric vehicles, and digital technology, complementing India's rapid economic growth and manufacturing capabilities. The partnership is designed to enable sustainable, mutually beneficial growth in line with India's long-term vision of 'Viksit Bharat' by 2047, leveraging advanced technology and increased industrial collaboration for economic resilience and global competitiveness.
