New Delhi, Mar 6 (KNN) India and the Philippines embarked on a landmark journey towards bolstering technological collaborations with the inauguration of the first India-Philippine Tech Summit (IPTS) on Tuesday.

Hosted by the Indian Embassy in the Philippines, the summit unfolded in Taguig City, laying the groundwork for robust alliances in the realms of technology and digital innovation.

Indian Ambassador to Manila, Shambhu Kumaran, underscored the imperative for developing nations to forge partnerships, particularly in the domains of security, interpersonal relations, and economic growth. 

With the advent of Artificial Intelligence (AI) poised to catalyse further transformations, Ambassador Kumaran emphasised the necessity for collaborative endeavours, marking the IPTS as the inaugural step towards fostering such alliances.

The summit served as a conduit for Indian entrepreneurs to share their triumphs and experiences in the digital landscape with the Philippines. 

Ambassador Kumaran highlighted India's offerings as an avenue for the Philippines to study, assimilate, synergise, and collaborate in various sectors.

A notable feature of the IPTS 2024 was the presence of Indian 'unicorns' alongside startups specialising in agriculture, healthcare, and financial technology (fintech). 

These enterprises, valued at over USD 1 billion, showcased their expertise and potential collaborations with Philippine counterparts.

Department of Information and Communications Technology (DICT) Secretary Ivan John Uy reiterated the Philippine government's commitment to fostering public-private partnerships. 

Secretary Uy disclosed ongoing negotiations with the Indian government encompassing cybersecurity and digital transformation initiatives, underscoring the significance of the summit in revitalising bilateral cooperation.

The one-day summit, jointly organised by DICT, the Philippines Chamber of Commerce and Industry (PCCI), India's Ministry of Electronics and Information Technology (Meity), and the Federation of Indian Chambers of Commerce and Industry (FICCI), attracted around 300 participants. 

Representatives from diverse sectors, including agriculture, healthcare, fintech, Philippine government agencies, and businesses, converged to explore synergies and forge alliances. 

The participation of angel investors, venture capital firms, and incubators further enriched the discourse, promising avenues for collaborative growth and innovation.

As the Philippines emerges as a key ally for India in Southeast Asia across myriad sectors including defence, maritime security, and investments, the summit stands as a beacon of cooperation and mutual advancement in the digital age.

(KNN Bureau)