In his speech at the IPTS in Taguig City, Indian Ambassador to Manila Shambhu Kumaran spoke of the need for developing countries to develop partnerships among themselves, especially in the areas of security, people-to-people relations and economy.
“With the arrival of AI “With artificial intelligence, there will be further changes. There needs to be a partnership. And the summit marks the beginning of that partnership,” Kumaran said.
The event, he said, would bring Indian entrepreneurs and their success stories in the digital space to the Philippines.
“For the Philippines, India offers an opportunity to study, adopt, synergize and cooperate,” he added.
The summit brought together Indian “unicorns” – privately held, unlisted startups valued at more than $1 billion – and others startups in the fields of agriculture, healthcare and financial technologies (financial technology) in the Philippines.
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“IPTS 2024 will bring together a range of digital stakeholders and provide an unprecedented opportunity to network and explore mutually beneficial G2B (government-to-business) and B2B (business-to-business) partnerships,” he said. Department of Information and Communications Technology (DICT) Secretary Ivan John Uy said the Philippine government remains keen to sustain its partnerships with the private sector.
As of today, he said, several agreements are currently under negotiation with the Indian government on “cybersecurity” and “digital transformation.”
“The summit is a fitting renewal of cooperation and a celebration of the establishment of diplomatic relations between the two countries,” Uy said in a recorded speech.
The one-day IPTS was organized by the DICT and the Philippine Chamber of Commerce and Industry (PCCI) along with the Indian Ministry of Electronics and Information Technology (Meity) and the Federation of Indian Chambers of Commerce and Industry (FICCI).
About 300 participants from the agriculture, healthcare and fintech sectors, as well as representatives from Philippine government agencies and businesses were expected to attend the event. Angel investors, venture capital Companies and incubators also participated.
The Philippines has emerged as a key partner of India in Southeast Asia in several sectors including defence, maritime security and investments.