Ministry of External Affairs creates “NEST” to increase investment coordination

The Ministry of External Affairs is to set up a new division called NEST-New and Emerging Strategic Technologies. The division will work to increase investment coordination among the states of the country and also with the foreign countries.

Highlights

The NEST will act as a nodal point to exchange views with foreign governments. This will help in confronting emerging challenges and scenarios in new technologies. With India coping with issues of security implications in 5G and artificial intelligence, NEST division will help India spread emerging technologies among the states. It will also aid in coordination among domestic ministries and departments.

The division will also hold responsibility for matters that involves negotiations with multilateral fora like United Nations, G20. This will help to safeguard India’s interests as such forums govern the rules of access to such technologies.

The Emerging Technologies

The top Emerging Technologies in India are Artificial Intelligence and Internet of things. The emerging 5G technology will improve the performance of IoT platforms.

3D printing finds its application widely in areas such as defence, aerospace, automobile, engineering and medical. Robotic Process Automation (RPA) is yet another emerging technology that finds its application in supply chain management and customer services.

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