Engineering and machinery industry: current challenges and prospects

Abstract

The world today and tomorrow, given the changing global socio-political situation drive for trade liberalisation and escallating technological advances, it is inevitable that the 'economic war' will dominate the world scene well into the next century as the inhabitants of the earth of different countries, strive for better standards of living and better quality of life instead of larger terirtories. an absolutely different 'nature of struggle' for supremacy. With global The wish to emerge as a respectable nation in the context of world economy, will imply the need for any nation to excell in different industries such as manufacturing, service, etc. Apart from the basic resources, ie. the financial, technological, and human resources, the nation will need the tools also, to succeed. It is in this context that the general Engineering and Machinery (E & M) industry can be regarded as the supplier of the ‘equipment and support'. Progress towards such endeavours will not be possible, with the technical knowhow, neccesary manpower and financial recources alone, if the machinery, equipment and engineering support is not available.