S Korea, India collaboration pivotal to address global eco environment, global supply chains issues: Amb Chang Jae-bok
PUNE (Maharashtra): Collaborative efforts between Korean and Indian entrepreneurs are pivotal to navigating the challenges of the current global economic environment and securing prominent positions in global supply chains, said Chang Jae-bok, the South Korean ambassador to India.
“Korean companies bring state-of-the-art technologies and efficient manufacturing expertise, honed through a rich history of economic development. Simultaneously, Indian firms possess abundant natural and human resources, fortified by unwavering governmental support for nurturing domestic industries,” ambassador said on Friday while addressing the 11th Edition of West Tech Summit 2023 focused on the theme “Technological Innovation & International Expansion” in Pune. It was organized by Confederation of Indian Industry (CII) Pune, and supported by ‘The Embassy of Republic of Korea’ and Korea-Trade Investment Promotion Agency (KOTRA) India-Korea Business Cooperation Center. More than 150 management and delegates converged at the Hyatt Regency Pune to discuss role of innovations and new technologies and resultant disruptions across sectors and geographies.
Ambassador said that the ongoing digital transition in the global economy was entering a new phase, characterized by non-linear technological advancements. Artificial Intelligence (AI), exemplified by innovations such as Chat GPT (Generative Pre-trained Transformer), is reshaping the global business environment in unprecedented ways, presenting both challenges and opportunities.
Shekhar Singh, Commissioner Pimpri-Chinchwad Municipal Corporation and Pradeep Bhargava Chairman, CII GreenCo Council and Chairman Automotive Stampings and Assemblies Ltd were also present on this occasion.
Shujaul Rehman,Chairman, CII Pune Zonal Council and Chief Executive Officer, Garware Technical Fibres Ltd, Sanjeev Fadanavis, Chairman West Tech Summit 2023 and Chief Executive Officer Nitor Infotech India Pvt Ltd, Sudhir Mehta, Past Chairman, CII Western Region and Managing Director, Pinnacle Industries Ltd, Kiran Acharya, Vice Chairman, CII Pune Zonal Council and Managing Director & CFO, Sandvik Coromant India Pvt Ltd along with other dignitaries were present on the occasion.
The day long deliberations included various sessions like Technological Innovation & International Expansion, Role of AI in Accelerating Innovation & Generating Value and Technology Disruption in International Expansion.
Shujaul Rehman, Chairman CII Pune and and Chief Executive Officer, Garware Technical Fibres Ltd said that we are living in a dynamic digital era powered with revolutionary technologies like AI, which has transformed and accelerated innovations across sectors from automobiles to engineering to healthcare. And this is just the start with exciting times ahead. The West Tech summit brought together the decision makers who are using these new age technologies to transform the way we work. The summit gave an insightful perspective on the innumerable possibilities that new technologies offer for businesses.
Sanjeev Fadanavis, Chairman West Tech Summit 2023 and Chief Executive Officer Nitor Infotech India Pvt Ltd said that technological capabilities will be a key to business expansions both domestically as well as internationally. International expansion appears to have been to a large extent impingent on the development of technological and innovation capabilities. In recent years, generative artificial intelligence (AI) has emerged as a once-in-a-generation technology, revolutionizing virtually every sector and market. AI-powered tools will change how we approach work and life across dozens of fronts, including corporate innovation
A testament to deepening India-Korea cultural ties, the delegates were treated with a special K-Pop session to give a glimpse of Korean Pop Culture which has transformed into a global phenomenon.
