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Technology absorption, adaptation and innovation<br />
1. Efforts and Benefits<br />
Efforts by the Company’s in-house research and development team and<br />
networking with the various collaborators have resulted in improved design,<br />
development and production of the Company’s indigenous products and<br />
processes and related cost effectiveness. This has led to increased<br />
<strong>com</strong>petitiveness and acceptability in markets, both in India and abroad. New<br />
products on the anvil are intelligent electronic devices for power apparatus,<br />
brushless DC motors for consumer appliances and pumps, wind generators and<br />
dry type distribution transformers.<br />
Import substitution during the year<br />
Indigenisation of imported raw materials viz., HID discharge tubes, fluorescent<br />
power for light sources.<br />
2. Imported Technology<br />
Year of Product Imported Status of<br />
Import from Absorption<br />
2001-2002 Gas Insulated Hyundai Heavy Industries In progress.<br />
Switchgear Co. Ltd., Korea.<br />
C. Foreign Exchange Earnings and Outgo<br />
(a) Activities relating to exports; initiatives taken to increase exports; development<br />
of new export markets for products and services; and export plans:<br />
The Company’s activities and initiatives relating to exports are contained in<br />
the Management Discussion and Analysis Report that forms a part of the<br />
Annual Report.<br />
(b) Total foreign exchange earned and used :<br />
Rs. Crores<br />
Total foreign exchange earned 282.60<br />
Total foreign exchange used 111.80<br />
On behalf of the Board of Directors<br />
Mumbai, 26th May, <strong>2004</strong><br />
KK NOHRIA<br />
Chairman<br />
27
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