Insurance Cover Mooted For Technology Failure

V S Ramamurthy, secretary to the department of science & technology and chairman of the Technology Development Board, has proposed an insurance cover for technology failure.

Speaking at a meeting organised by the Confederation of Indian Industry (Northern Region) here yesterday, Ramamurthy said the insurance would go a long way to encourage Indian industry to enhance its technological base.

He stressed on the need for enhanced communication between developers of technology and industry, since technology development is and will continue to be an essential pre-requisite to succeed in the market place.

CII (Northern Region) president Arun Bharat Ram, in his opening address, expressed the view that the customer wants not only the most technologically current product but also one that looks the most aesthetic. He referred to the rapid strides made in pre-treatment, application technology, automation, variety of finishes and new benchmarks of durability.

Satish K Kaura, chairman and managing director of Samtel Colour Ltd and immediate past president of CII (Northern Region), dwelt on the need to develop and appreciate all facets of technology, including design, manufacturing, processes and systems.

According to Kaura, skills for managing technology in the new millennium are the greatest challenges confronting Indian industry. The meeting was the inaugural session of a two-day exposition on painting technologies being held in New Delhi that has attracted over 200 delegates.