Photographs: Kevin Lamarque/Reuters.
The Obama Administration has announced setting up of an institute for manufacturing innovations which will help prevent jobs going to India and China.
"This institute will help make sure that manufacturing jobs of tomorrow take root not in places like China or India, but right here in the United States of America," US President Barack Obama said in a statement.
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How Obama plans to stop jobs going to India
Photographs: Rebecca Cook/Reuters.
"That is how we will put more people back to work and build an economy that lasts," he added.
The National Additive Manufacturing Innovation Institute (NAMII), which will be based in Ohio, will be a public-private partnership initiative and has received $70 million as the initial financial assistance.
"I am ...
How Obama plans to stop jobs going to India
Photographs: Kevin Lamarque/Reuters.
On March 9, Obama had announced plans to invest $1 billion to catalyze a network of up to 15 manufacturing innovation institutes around the country that would serve as regional hubs of manufacturing excellence and help to make manufacturers more competitive and encourage investment in the United States.
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How Obama plans to stop jobs going to India
Photographs: Jessica Rinaldi/Reuters.
Obama also announced immediate steps to launch a pilot institute to serve as a proof-of concept for the NNMI.
Five federal agencies - the Departments of Defense, Energy, and Commerce, the National Science Foundation, and NASA – jointly committed to invest $45 million in a pilot institute on additive manufacturing.
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