An international conference on Trade and Technology was organised by the Ministry of Commerce & Industry in Bengaluru today.  
 

The event was hosted by the Department of Commerce and organised by nasscom and EEPC India on the side lines of the 2nd G20 Trade and Investment Working Group (TIWG) Meeting in the city.  Delegates from the member countries, industry and academic experts from across the world were present at the conference to engage in constructive dialogue and exchange of ideas in the domain of trade and technology.  Minister of State for Commerce & Industry, Shri Som Parkash, in his key note address, set the tone for the overall discussions. He highlighted that by working together, we can overcome challenges, leverage technology, and build a prosperous future for all.

Commerce Secretary, Shri Sunil Barthwal, in his inaugural address, highlighted that rapid advancement of technology is reshaping the very fabric of international trade; mentioned about India’s positioning in this technological transformation; talked about increasing collaboration to enhance trade facilitation including through digital exchange of cross border trade documentation; and exhorted for deeper G20 collaboration to harness the transformative power of trade and technology for the benefit of our economies and societies.

The opening session also witnessed participation of Ms. Debjani Ghosh, President, nasscom, and Mr. Arun Kumar Garodia, Chairman, EEPC India.
Two panel discussions were organised as part of the event comprising of international experts. The first Panel discussion, titled “Technology reshaping trade” took a macro view of the current trends in international trade, impact of technology on it and prospects in the forthcoming years. They also deliberated on the priorities and plan of action to enable countries, companies to navigate through the uncertain times and take advantage of emerging opportunities. The panellists recommended enhanced collaboration on standards, movement towards interoperability of digital infrastructure and deeper cooperation and partnership of business ecosystems.

The second panel discussion, titled “Transformative tools for revolutionizing manufacturing and trade” focused on: role of technology and innovations towards increasing market access among G20; importance of new and emerging technologies such as in Defence, Aerospace, Health care and Energy efficiency among emerging economies; ways to improve supply chain management and relevant technologies; ways and means to build and leverage cost competitiveness to enhance trade; better integration of start-ups and Small and Medium Enterprises in the global supply and value chains for addressing any gaps and building resilience; and key areas of collaborations.  

The session delved on the emerging technologies and innovations such as additive manufacturing, artificial intelligence including Generative AI, Internet of Things, Blockchain, Autonomous vehicles and drones and Augmented/Virtual Reality etc, and the major potential these technologies have to transform global trade in goods while transforming the traditional manufacturing processes and supply chains. 

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G20 Team/PIB

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