The Technology Development Board, a statutory body under Government of India's Department of Science and Technology, shall be honouring Pune’s Vikarsh Nano Technology and Alloys Private Limited, for the successful commercialization of nano crystalline ribbons and amorphous ribbons, which contributed to foreign exchange savings through these locally developed innovative advanced materials.
Company spokespeople said a trophy and a cash prize of rupees 15 lakhs will be presented to the founders of Vikarsh by Shri Pranab Mukherjee, President of India, during a special function to be held at Vigyan Bhavan at the upcoming Technology Day to be held on May 11. Dr. Harsh Vardhan, Union Minister of Science and Technology and Earth Sciences would also be present on the occasion. May 11th is celebrated as Technology Day to commemorate the successful nuclear tests in Pokharan on May 11th, 1998.
Nano crystalline and amorphous ribbons are the outcome of complex engineering techniques. Vikarsh is the first Indian company to develop these products in India for which the Indian industry hitherto was largely dependent on foreign manufacturers. These products have passed all international quality and environmental norms and have proved to be five times better in performance as compared to its competitors from developed countries.
Largely used in the electrical and electronics segment, these products have saved an estimated 2 million dollars in foreign exchange in the last financial year. Apart from electrical and electronics, these ribbons also have applications in other areas like defence, medical sciences and solar energy.
Sameer Shinde, Milind Wani and Laxmikant Trivedi, the founders of Vikarsh, had a dream to indigenously develop high performance magnetic material. The dream was realized after a consistent effort of about five years when in December 2014 these products were successfully manufactured by Vikarsh.
Leading industry houses like ABB, General Electric, Siemens, Toshiba, Crompton Greaves Limited and Bharat Heavy Electricals Limited have approved the usage of nano crystalline ribbons and amorphous ribbons from Vikarsh. The usage of these ribbons manufactured in India is likely to grow in the current financial year and is likely to increase of foreign exchange savings to up to 3 million dollars.
Founded by Sameer Shinde, Milind Wani and Laxmikant Trivedi, the group primarily has two group companies, Vikarsh Stampings India Private Limited and Vikarsh Nano Technology and Alloys Private Limited.