Export is the selling of goods outside the country, which has great contribution in the economic growth. The Government of India has launched various export promotional schemes to make Indian goods cost competitive in the International trade.
To generate the employment in the country and have access to variety of goods and for raising the standards of living of it’s citizen Government promote the exports.
There are the various technologies used for the production of export goods.
Technology used in the manufacturing of a business provide the tools which enable the manufacturing of exported goods.
Internet of things (IoT):-
IoT is the amalgamation of following technologies –
- Machine Learning
- Sensor Data
- Cloud Integration
- Machine Automation
3D Printing is used to manufacture the 3D solid objects from a Digital file. This technology help us to prepare complex models. There are various software used in 3D Printing technology.
Examples of 3D
- Consumer products (eyewear, footwear, design, furniture)
- Dental products
- Industrial products (manufacturing tools, prototypes, functional end-use parts)
- Reconstructing fossils
- Replicating ancient artefacts
- Architectural scale models &maquettes
Artificial Intelligence and Machine Learning:-
Artificial Intelligence (AI) used to Programmed machines which help them to think like humans and mimic their actions. Artificial Intelligence has 2 category. 1) Vertical Artificial Intelligence 2) Horizontal AI.
It is the technology used in Electronic Manufacturing Industry, using the nanotechnology large number of electronic devices are embedded on a single chip.
Industrial Manufacturing Processes can be improved using nanotechnology and it is used in the semiconductor industry.
Government Scheme for Technology Upgradation:-
Government of India launched EPCG Scheme to allow duty free import of capital goods/ Machinery which can be used to manufacture the export goods.
Government issue the license with the condition of export obligation which has to be fulfilled by the license holder in given time period. In case license holder failed to complete the export obligation he has to pay the penalty for redemption of the license.
With the EPCG Scheme there were various schemes launched under foreign trade policy to promote the exports from the country. Advance Authorisation Scheme was launched to allow duty free import of inputs required to manufacture the export goods. There are various methods to do the application under Advance Authorisation Scheme. 1) SION method 2) Self Declaration Basis 3) Applicant Specific Prior Fixation of norms 4) Self ratification basis.