The India Global Forum’s (IGF) flagship Annual Summit, around the theme of “Setting the Pace”, concluded successfully with stakeholders across sectors sharing their views on how India is well poised to set the pace to meet the challenges faced by the world.
With an impressive lineup of business leaders, policymakers, founders, and investors, the conversations throughout the day shed light on potential areas of growth, issues that matter and how a collaborative approach will help set the pace for globalization of India’s unique advantages and offerings. In a thought-provoking address, Union Minister Hon. Smriti Zubin Irani speaking on “Faster Inclusion for Mutual Benefit and Socio-Economic Impact” said, “India is now setting new standards on the issue of gender justice. Over the years, our nation has transitioned from focusing on women’s development to women led development. Women are not only a gender that has faced many complexities and challenges, but we are also at the forefront of delivering solutions.
India has now proven a social and economic case for gender justice. For keeping humanity in, keep women in your consideration. That’s my message to the India Global Forum’s Annual Summit.” Prof. Manoj Ladwa, Founder and Chairman of India Global Forum said, “It is exciting to witness the progress role of women-centric initiatives across sectors and within the policy framework which are setting the pace for India. The country continues to rise and shine in women led development and providing equal opportunities. At IGF, we believe in building lasting partnerships that will provide opportunities for women leaders to realise their potential and scale globally.”
The Summit also hosted insightful conversations with Hon. Union Ministers Piyush Goyal, Ashwini Vaishnaw and Bhupender Yadav. Encompassing 30 themes, 35+ concurrent roundtables, and 500+ participants, IGF’s Annual Summit analysed diverse perspectives and expert views on how India is “Setting the Pace” for the global economy. From Technology and Innovation, Investment, Finance and Infrastructure to Diversity, Inclusion and Climate Finance, the day covered a wide range of informative sessions amongst policymakers, industry captains and other influential thought leaders.
A few highlights from the roundtables:
During the roundtable entitled Setting the Pace on the Future of Social Media: Building from India for the world with Koo, the panelists highlighted how Indian social media companies are making waves in the global market as they expand their services beyond India’s borders. Companies such as Koo have gained immense popularity in India and are now attracting users from other countries as well. Additionally, the Indian government’s push for self-reliance has fueled the growth of these companies, which are now competing with global giants. Another roundtable discussion around Setting the Pace on Foreign Direct Investment with Sorin Investments, flagged that in 2023, India is expected to continue its position as a top destination for foreign direct investment, thanks to its large market size, growth potential, and business-friendly reforms.
Despite the government’s FDI attracting measures such as liberalizing investment rules, simplifying regulations, and providing tax incentives whilst providing a positive outlook, the country faces some challenges in attracting FDI, such as bureaucratic hurdles, infrastructure gaps, and policy uncertainties, which need to be addressed to fully leverage its potential. Setting the pace on Building for Bharat with Google Cloud India shed light on how Building for Bharat is the initiative to build products and services that are accessible and affordable for the next billion users in India. Cloud services can play a key role in this initiative by providing the infrastructure and tools that businesses need to build and scale their products and services.
The roundtable around Setting the Pace on Web3 with Coinbase touched upon how with a thriving IT sector, immense talent pool, and growing economy, India has the potential to lead the world’s Web3 revolution. Effective implementation of Web3 technologies could revolutionize education, government services, infrastructure development, financial inclusion and many other aspects that can be beneficial not only for India but can also serve as a strong benchmark for the rest of the developing world. As digitisation accelerates, governments utilise technology for improved service delivery. With the theme of Setting the Pace for Digitising Government Services with Deloitte India, the roundtable examined barriers and enablers of digitizing government services, the impact of AI, IoT, and blockchain, strategies for secure and scalable digital infrastructure, and creating inclusive citizen-centric services. The discussion also focused on leveraging these technologies for efficient, effective services, ensuring no citizen is left behind in India’s digital growth story.
During the Setting the Pace for Diversity and Inclusion with Sequoia session, the discussion highlighted that Accelerating Diversity and Inclusion in the Workplace is critical for organisations seeking to remain competitive in today’s global marketplace. Diverse and inclusive workplaces drive innovation, improve decision-making, and enhance financial performance. Research shows that gender-diverse companies are 25% more likely to outperform their peers, while ethnically diverse companies are 36% more likely to do the same. How can we build a diverse talent pipeline and promote inclusive workplaces? The roundtable around Setting the Pace for Climate Tech B Capital discussed how India’s climate tech industry, currently valued at $10 billion, is poised for rapid growth at an impressive CAGR of 15%. Fuelled by innovative startups, cutting-edge research institutions, and robust government support, the sector is set to revolutionise green energy, carbon capture, and sustainable agriculture.
As India tackles pressing environmental challenges, this vibrant ecosystem will play a pivotal role in fostering sustainable development and propelling the nation towards a greener, more resilient tomorrow. With such promising prospects, can India emerge as a global climate tech leader in the coming years? The Roundtable on Setting the Pace on Funding Female Entrepreneurship hosted by Josh Talks addressed the issues access to funding which remain a critical challenge. The discussions were around how can female entrepreneurship attract greater funding, what are the unique challenges facing female entrepreneurs and now can we nurture female-led ventures more?