Using new techniques, skills, procedures, methods used in obtaining the goods or services to achieve certain objectives is known as the use of technology for the businesses. The use of technologies helps us to reach business partners who can help us to take our business on another level, more potential customers.

We use technology in the following areas of the businesses-

  • In the Manufacturing of goods
  • To maintain the business data in the system
  • For Effective Marketing of the goods or services
  • In accounting and financing
  • To sell the goods/services on Digital platform

Technology in Manufacturing of goods:-

Technology in Manufacturing provide tools/Software/System which enable Manufacturing sector production of goods or services.

Advantages of using technology in the manufacturing sector:-

  • Magnify the efforts of workers
  • Stable Economy
  • Raise the standard of living
  • Provide Effective national defense
  • Modern Communication
  • Innovative Medical Equipment
  • Efficient Transportation
  • Affordable agricultural products

EPCG Scheme was launched under foreign trade policy to allow duty free import of capital goods to manufacture the export products.

Technology used to maintain the business record and store the official data:-

Storing the data and maintaining the business details is the key component of growing business software, tools are used to store the data the following data –

  • Accounting
  • Expense Reporting
  • Budget record
  • Documentation for tax purpose, legal reasons and make the plan for the growth of the business.

Electronic storage of the data makes the Digital way to store the data which is cost-effective and efficient. To promote the exports Advance Authorisation Scheme was launched to allow the import of raw materials and other inputs to manufacture the export goods under foreign trade policy.

The technology used in Marketing:-

Marketing is the boon of any business without doing the marketing there is no business can survive nowadays, it generates leads to grow and expand the business. Digital Marketing is the way of doing marketing by using digital technologies such as marketing through Email, using the Mobile technology, Search Engine Optimization, Social Media Platforms.

Email Marketing is used to send promotional mail, newsletters, company introduction letter to make the potential customers.

Mobile technology used for telemarketing as there is no restriction of the place from where you are working.

Having an optimized website is important for business growth and expansion. We have discussed how technologies are used for the growth of the business.

The government introduced Advance Authorisation Scheme as an export promotion scheme, Advance License issued to allow duty-free import of raw materials and additional inputs to manufacture the export goods under the scheme.