Government is working on a plan to incentivise Indian industry for upgradation of technology to keep it competitive globally, a senior official said on Friday. “The Government is planning to give incentives to the industry for upgradation of technology to match the global standards and stay in competition,” Sudhanshu Pandey, Joint Secretary, Ministry of Commerce and Industry, said at a CII event here.
“This is part of our efforts to bring greater awareness among industry members and other stakeholders about the importance of standards in the changing scenario of global trade,” Pandey said. “The Government has identified around 400 products and is working on building mandatory standards for the items.” Pandey said since the exercise entails inter-ministerial collaboration, the process is time-consuming and requires approval of the cabinet.