ESC showcases India’s deep tech capabilities at Gitex 2024
Over 100 Indian ICT companies are displaying their products and solutions at the GITEX
While addressing a global gathering of ICT business interests at the inauguration of the Indian Pavilion at the Gitex 2024, Dubai, Veer Sagar, Chairman, Electronics and Computer Software Export Promotion Council (ESC) said that showcasing India’s deep tech capabilities would be the focus at this year’s participation.
Explaining the rationale for showcasing deep tech at the Gitex 2024, the ESC Chairman said; “Such technologies have the potential to address complex societal challenges, such as healthcare, climate change, genomics, blockchain, and cybersecurity, which are central to the present-day development process.”
Over 100 Indian ICT companies are displaying their products and solutions at the GITEX 2024 in 12 pavilions under the banner of ESC, which is the apex organization of the Indian ICT exporters. The high-tech products on display include solutions and devices relating to Artificial Intelligence, Cybersecurity, Mobility, Sustainable Technologies, Fintech, Banking Solutions, etc.
Importantly, the ESC' India Pavilion was inaugurated by Sunjay Sudhir, Ambassador of India in Abu Dhabi, United Arab Emirates and addressed by Satish Kumar Sivan, Consul General of India in Dubai.
Dwelling on the depth of the Indian tech landscape, Veer Sagar said currently, India has over 3600 deep tech startups, with over 480 being established in 2023 itself. In 2024 also, deep tech start-ups are springing up. “ESC envisages abundant opportunity for close tie-ups on a bilateral and multilateral basis for promoting the Indian deep sector for developing complex solutions in multiple sectors like education, healthcare, climate change, and importantly promoting digitization in the MSME sector;” adds Mr. Veer Sagar,
Kamal Vachani, Regional Director of ESC-Dubai, spoke on India's remarkable rise in the global tech arena, and the possible contours of collaboration between India and the UAE in deep tech Areas: “Our participation at GITEX 2024 is not alone in showcasing our cutting edge products and solutions, but to demonstrate the gradual process of India assuming technology leadership,” he said, adding that India is no longer a technology follower alone but a leader as well in certain segments of the ICT sector, because of its unprecedented focus on innovation and R&D.
The Middle East region, Vachani said, is one of India’s important markets for Indian ICT products and IT solutions. “There are untapped bilateral potentials for entering into business tie-ups in sectors including telecommunications, digitizing segments like utilities, tourism, financial services, and real estate, which are mutually beneficial." He also called upon investors, particularly venture capitalists to invest in the Deep Tech areas in India, where the returns can be considerable.
Importantly, in 2018, India and the UAE signed an MoU to establish a bilateral AI bridge to create $20 billion in economic benefits over the next decade. The MoU focuses on open bilateral engagement through a Joint Working Group comprising both countries. It aims to foster an innovation ecosystem by involving governments, startups, academia, and industry associations while promoting further investment in AI.
Also, the two nations will collaborate to advance energy storage technologies, Smart Grid deployment, renewable energy, healthcare, green hydrogen, space, and energy efficiency R&D, where there is a significant interplay of technology.
Highlighting the robust trade relationship between India and the UAE, Sandeep Narula, Chairman (Global Outreach), ESC, remarked: “The trade relationship between India and the UAE has evolved into one of remarkable strength and mutual benefit;” he said, adding that the UAE is India's third-largest trading partner, and India is among the UAE's top trading allies. This robust relationship is marked by strong economic ties, especially in sectors like technology, electronics, and energy, supported by significant foreign direct investment and growing bilateral collaborations. “ We have to scale up such collaborative efforts to help businesses of both countries;” he added.
Gurmeet Singh, Executive Director of ESC, emphasized the organization’s critical role in advancing India’s electronics and IT sector, stating, "ESC India serves as a bridge between Indian innovation and the global market. At GITEX 2024, we’re not just participants; we’re making history," he added.
Importantly, ESC signed two MOUs at the inauguration of the GITEX 2024 as a part of its drive to engage with similar organizations abroad and to create a platform for extended trade and investment negotiations.
The first MOU was between ESC and Veracity Group of Sri Lanka. Veer Sagar, Chairman, ESC signed on behalf of ESC, and Jeevan Gnanam, Past Chairman, Slasscom and Group Managing Director of Veracity Group on behalf of Veracity Group
The second MOU was signed between ESC and the Latvian Investment and Development Agency in the UAE. Sandeep Narula, Chairman (Global Outreach) ESC, signed on behalf of ESC and Arnis Celitans signed on behalf of the Latvian Investment Agency.
During the India Day celebrations at the event, Gurmeet Singh extended an invitation to the UAE’s industry leaders to explore cutting-edge innovations at INDIASOFT 2025, scheduled for March 19-21, 2025, in New Delhi. He underscored that this global gathering will offer unparalleled opportunities for collaboration and business ventures, promising that the world will witness a showcase of transformative innovations.
As the premier organization representing over 2,500 Indian technology companies, Singh ESC extended an to invite global stakeholders to the 25th Silver Jubilee edition of INDIASOFT – www.indiasoft.org - and the 10th INDIA ELECTRONICS EXPO- www.indiaelectronicsexpo.com - scheduled for March 19-21, 2025, in New Delhi.
These landmark events will showcase India’s cutting-edge technological innovations and top-tier electronics products,” he added