Techno-Economic Approach to Development and Productionisation of a New Product

During the last 30 years, significant advances have taken place on the science and technology front in India. The avalanche of technological advances has smothered the lets developed countries of the world. This has led them to generate, transfer and appropriately utilize technology for their faster growth, progress and prosperity.

With the great quantum of inputs of resources and with the knowledge explosion and variety thereof, it is no more feasible to carry out efficient productionisation of a product single handed. Elements that influence productivity are capital, information, technology and people. Long gestation period, under utilisation of capacity and poor maintenance are considered factors contributing to the decline in output per unit of capital the world over. There are constant efforts to cut costs and improve capacity through technological innovations. For a higher productivity, a greater emphasis is necessary on motivating and updating human resources. Technology is accelerating at such a high rate that unless "manpower" development keeps pace with dynamics of this technology, it becomes impossible to manage technology development efforts to meet requirements. Technology based industries have to rejuvenate their man power through, training and updating, which is basic necessity to accelerate a drive to invent and innovate