JR Single nominated Chairman of technology CICU up-gradation Committee

Ludhiana, June 9, 2016: Sh.Avtar Singh, President CICU in a statement released said that of Sh.J.R.Single nominated Chairman of technology CICU up gradation Committee use of high end technology in manufacturing is very poor in Punjab especially Ludhiana Industry as compared to large number of countries of the world. A growing and competitive manufacturing sector is now becoming the prime mover of modern economy, therefore, technology upgradation is the vital essence for the success of the Punjab industrial Sector. Accordingly, CICU has formed High Level Technology Upgradation Committee under the Chairmanship of Sh. J.R. Single, Managing Director M/s East Caste Forgings comprising 20 other key industrialists as its members to serve larger interest of all types of industry.
Sh. Upkar Singh Ahuja, General Secretary, CICU said that Technology Up-gradation has emerged as an important attribute in enhancing competitiveness for any manufacturing industry. Our Industrial sector needs to focus on adoption of new technology to meet challenges of liberalization and globalization. In the prevailing economic scenario there is dire need to catalyze the manufacturing growth which will contribute to the national focus of “Make-in-India” program of Hon’ble Prime Minister of India.
Sh. Ahuja requested the industrialists to avail benefits of TADF Scheme which is technically and administratively managed by Global Innovation & Technology Alliance (GITA) jointly promoted by Technology Development Board, Department of Science & Technology, Government of India. The main highlights and benefits under TADF are as under.
? Direct Technology Acquisition for which reimbursement of 50% of Technology Transfer Fee or Rs. 20 Lakhs whichever is lower.
? Indirect Technology Acquisition with subsidy of 50% of mutually agreed value or Rs. 20 Lakhs whichever is lower.
? Subsidy for Manufacturing Equipment/Technology with subsidy of up to 10% of Capital Expenditure incurred on new Plant and Machinery subject to maximum of Rs. 50 Lakhs.
? Incentive Scheme for Green Manufacturing facilitating resource conservation activities in industries located in NIMZ through the introduction of incentive / subsidy schemes for energy/ environmental / water audits, construction of green buildings, implementation of waste treatment Facilities and implementation of renewable energy projects.

Committee will focus on sharing on best practices in technology and availing of Government benefits under various schemes for technology up gradation. This Special meeting was attended by S/Sh. Tejvinder Singh M/s Big Ben Exports, Rahul Ahuja M/s Ahuja industrial Corporation, Harminder Singh M/s HMK India, Paratp Singh M/s Ishmeet Forgings Pvt. Ltd., Manminder Singh Pabla M/s Pabla Bear Ltd., Rajesh Uppal M/s Atotech India, M.P. SinghM/s Hindon Metalforms Pvt. Ltd., Honey Sethi M/s A.B. Steel Works, S.B. Singh M/s Taaran Industries and Gourav Sehgal M/s Pye Tools Pvt. Ltd..