CII Media Releases
India’s technology prowess makes it an attractive hub for foreign investments says Dr Jitender Singh; Mr Iswaran highlights deep tech, cleantech and genome and bioinformatics research as three important areas of collaboration; India and Singapore sign MoU and an Agreement at DST-CII Technology Summit 2022
Feb 23, 2022

While inaugurating the DST-CII Technology Summit 2022, Dr Jitendra Singh, Minister of State (Independent Charge) for Science & Technology and Earth Sciences, and Minister of State in the PMO; Ministry of Personnel, Public Grievances and Pensions; Department of Atomic Energy and Department of Space, Government of India highlighted that India is now an attractive hub for foreign investments, with a market of more than a billion consumers with increasing purchasing power. Known for its technological prowess, India is on a rising trajectory of innovation. “India & Singapore have had well-established collaboration over many years. New dimensions are being added to it. We are now forging knowledge-based ties,” he added.

He stated that the DST-CII Technology Summit 2022 will provide significant opportunities for harnessing this knowledge and Innovation economy-based partnerships, forging new collaborations, and leveraging emerging technologies to usher an era of abundant opportunities of growth for both the nations.

In his Keynote Address, Mr S Iswaran, Minister for Transport and Minister-in-charge of Trade Relations, Singapore noted that the bilateral trade in goods between both countries has increased by 35 per cent from $19.8 billion in 2020 to $26.8 billion last year. "It is a sign that our economies are recovering from the Covid-19 crisis," he added.

He suggested three areas in which both countries could collaborate. The first is deep tech, which includes technologies such as artificial intelligence and the Internet of Things and involves the construction and built environment sector. The two other areas are clean tech, involving renewable energy, as well as genome and bioinformatics research.

The Department of Science & Technology (DST), Govt. of India and Confederation of Indian Industry (CII) have been jointly organizing Technology Summit for more than two and a half decades in partnership with a country to strengthen bilateral trade and investments driven by science, technology, and innovation. Singapore is the partner country for the 28th edition of the summit being held virtually during 23rd-24th February 2022.

In his address, Dr S Chandrasekhar, Secretary, Department of Science and Technology Government of India highlighted that India & Singapore have been partnering government-to-government and business-to-business, and now it is time to create a more comprehensive collaboration on basis of ecosystem-to-ecosystem.

While addressing at the summit, Mr T V Narendran, President, Confederation of Indian Industry mentioned that there are numerous progressive initiatives jointly undertaken by Indian and Singapore stakeholders.

Innovation is about co-creation for tacking social change and this Technology summit provides a renewed focus with co-creation opportunities for both India and Singapore, stated Mr Vishvas V Sapkal, Joint Secretary-South, Ministry of External Affairs, Government of India.

In his address, Mr Vipin Sondhi, Chairman, DST-CII Technology Summit & Chairman, CII National Mission on Technology, Innovation & Research mentioned that several successful partnerships can be built between India and Singapore by harnessing the complementarity of expertise, knowledge and resources available on both sides.

During the session, Mr Chandrajit Banerjee, Director General, Confederation of Indian Industry stated that the key domains of mutual interest include Precision medicine, Smart & future ready cities, Space technologies, Industry 4.0 and Advanced Engineering, Digitizing Supply Chains, and Green Mobility.

While conveying his Vote of Thanks, Mr Sanjeev K Varshney, Head, International Cooperation, Department of Science & Technology, reiterated that the summit shall help in establishing a new era of Technology leadership for socio-economic, and all-inclusive growth.

The summit also featured the signing of a Memorandum of Understanding (MOU) between the Department of Science and Technology, Government of India and the Ministry of Trade and Industry, Government of Singapore. The MOU will encourage, develop and facilitate collaborative projects in fields of mutual interest. These projects could advance progress in research, innovation and technological development in a range of sectors, including advanced engineering and manufacturing; energy, climate, and natural resources; health; and other emerging technologies.

In pursuance of India Singapore Intergovernmental MoU, Department of Science and Technology, Government of India and Enterprise Singapore also signed an Implementation Agreement to start an Industrial R & D Programme which will provide opportunity for Industry from both countries towards joint technology development.

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