Innovation Current Affairs - 2020
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The World Productivity Congress has been conducted by the World Confederation of Productivity Science since 1969. It was last held in India in 1974. The Congress is held under the theme
Theme: Industry 4.0-Innovation and Productivity
The 19th World Productivity Congress to be held in Bengaluru aims at catalyzing government approaches in enhancing productivity. It is to be held between May 6, 2020 and May 8, 2020.
The Congress will act as a platform to shape future productivity growth. It will also help India and other attending stakeholders to learn innovative approaches that are essential to support the growing population. It is expected that the world population will reach 9.7 billion by 2050 and 11.2 billion by 2100 according to the United Nations.
According to the World Economic Forum, India will become the third largest economy in the world after US and China by 2030. Also, in the next few years India is expected to grow at 7% though it is facing a slowdown currently. This huge market potential of India makes it an ideal choice for the 19th world productivity congress.
Tags: Economic Growth • Economic Slowdown • Industrial production • Innovation • United Nation
On February 26, 2020, the Cabinet Committee on Economic Affairs approved the National Technical Textiles Mission. The mission has been allocated Rs 1,480 crores. The aim of the mission is to make India a global leader in Technical Textiles.
The Mission is to be implemented in India for 4 years, that is, between 2020-21 and 2023-24. There are 4 components of the mission as follows
- Research, Innovation and Development
- This component has been allocated Rs 1,000 crores. It aims to boost research at fibre level. Under the component the focus is to be on Aramid Fibre, Carbon Fibre, Composites and Nylon Fibre.
- Promotion and Market Development
- The Indian Textiles Market contribute 6% of the global technical textiles. The Indian Technical Textiles market is estimated to be 16 billion USD and the global market is 250 billion USD.
- Under this component, the mission is to work towards taking the Indian Technical Textiles market to 40 to 50 billion USD by 2024.
- The above goal is to be achieved by international technical collaboration, market promotion and investment promotion.
- Export Promotion
- Education, Training and Skill Development
It is important to develop National Technical Textiles Mission because they are used in roads. Agriculture, sportswear, railway tracks and space applications.
Tags: Cabinet Approval • Export promotion • Innovation • National Technical Textiles Mission • Research and Development