Leading industrial experts deliberate on ‘Technological Innovations and International Expansions’
Pune, Maharashtra, India: More than 150 management and delegates converged at the Hyatt Regency Pune to discuss the role of innovations and new technologies and the resultant disruptions across sectors and geographies. The Confederation of Indian Industry (CII) Pune, in association with organizing the 11th edition of West Tech Summit 2023, focused on the theme “Technological Innovation & International Expansion” in Pune on November 30, 2023. The conference was supported by ‘The Embassy of Republic of Korea’ and the Korea-Trade Investment Promotion Agency (KOTRA) India-Korea Business Cooperation Center.
CII Pune hosts the 11th Edition of West Tech Summit 2023
Chang Jae-bok, Ambassador of the Republic of Korea to India, delivered the key note address, while Shekhar Singh, IAS, Commissioner Pimpri-Chinchwad Municipal Corporation, Pradeep Bhargava, Chairman, CII GreenCo Council, and Chairman Automotive Stampings and Assemblies Ltd. delivered the special address.
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 and International Expansion, the Role of AI in Accelerating Innovation and Generating Value, and Technology Disruption in International Expansion.
Chang Jae-bok, Ambassador of the Republic of Korea to India, said in his key note address that this year holds particular significance for both India and Korea-India relations, marked by India’s G20 presidency and the 50th anniversary of diplomatic ties between our nations. He extends his heartfelt congratulations to India for the successful G20 leaders meeting in New Delhi. He highlighted that the ongoing digital transition in the global economy is 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. He also stated that it is crucial to emphasize that the economies of Korea and India are complementary. 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. He firmly believes that 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.
Shujaul Rehman, Chairman CII Pune and Chief Executive Officer, Garware Technical Fibres Ltd., said that we are living in a dynamic digital era powered by revolutionary technologies like AI, which have 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 and 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 to a special K-Pop session to get a glimpse of Korean pop culture, which has transformed into a global phenomenon.
Also read: Organizations should be driven based on people and processes instead of emphasizing technology
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