Technological Environment in India

Technological Environment in India

The technological environment in India is rapidly increasing. As the country continues to grow, so also is the technology. With respect to the oil industry, ONGC was behind technologically, but has since put much needed money and focus on technology. ONGC realized that they were behind in the technological environment and this was creating a huge weakness with respect to their competitors. ONGC has turned what once was a weakness into strength though. One such example was the acquisition of technology to meet Euro II standards through the purchasing of MRPL. ONGC also implemented advanced technologies such as Increased Oil Recovery, Enhanced Oil Recovery and Supervisory Control and Data Acquisition. Another great technology that they implemented, that really gives them a competitive advantage is the Virtual Reality Interpretation Center, which is regarded as “one of the ten bests such systems in the world for applications in exploration.” This greatly enhances their ability for oil recovery and also for a competitive advantage. Other great technological advances were the implementation of an ERP, MIS and inventory control system. ONGC also implemented a completely digitized magnetic media seismic library, which is considered the one of the best in the world. This was a much needed improvement in technology over all their previous years to help compete on the world market. It cannot be emphasized enough how important technology is in a large corporation like this battling in a market that is very tough and depleting