Union Cabinet approves MoU between India and Germany

The Union Cabinet has approved signing of a Memorandum of Understanding (MoU) with Steinbeis GmbH Co. KG, Germany for technology transfer and resourcing in manufacturing, including sub-sectors of Capital Goods.
The MoU between India Steinbeis GmbH was signed in April, 2016 during the Industrial Exhibition Hannover Messe 2016 in Hannover, Germany.
Steinbeis GmbH is leading German organization for applied industrial research in Europe. It will act as a Technology Resource Partner for implementing identified projects in manufacturing.
The MoU envisages following field of cooperation

• Technology road mapping for specified Capital Goods sub-sectors.
• Cooperation in events on technology.
• Profiling of specific technologies.
• Upgrading existing technology institutes and setting up Greenfield institutes in India.
• Assessment of technology status of Capital Goods Cluster,
• Other technology related co-operation and collaboration.

Comment
The MoU is a framework instrument that seeks to facilitate industrial technology projects by Indian Capital Goods Sector. It will provide a platform to various public sector undertakings (PSUs) and Capital Goods Sector units to have easy access to expertise and capabilities of Steinbeis GmbH for identifying and plugging technology gaps.

Month: Current Affairs - June, 2016