'India has 3,600 deep tech startups with potential to address complex societal challenges'

Dubai: India houses over 3,600 startups in the deep tech sector which has the potential to address complex societal challenges including those related to healthcare, climate change, and cybersecurity, Electronics and Computer Software Export Promotion Council (ESC) chairman Veer Sagar said on Monday. Over 100 Indian ICT (information and communications technology) companies are displaying their products and solutions at the GITEX 2024 here at 12 pavilions under the banner of ESC India has over 3,600 deep tech startups, with over 480 being established in 2023 itself, Sagar said at the inauguration of the Indian pavilion at the GITEX 2024.

Showcasing India's deep tech capabilities would be the focus at this year's participation, Sagar said, adding, "Such technologies have the potential to address complex societal challenges, such as healthcare, climate change, genomics, blockchain, and cybersecurity, which are central to the present day development process." The high-tech products on display include solutions and devices relating to artificial intelligence (AI), cybersecurity, mobility, sustainable technologies, fintech, and banking solutions, among others. ESC's India pavilion was inaugurated by Sunjay Sudhir, Ambassador of India in Abu Dhabi, and addressed by Satish Kumar Sivan, Consul General of India, Dubai. "ESC envisages abundant opportunity for close tie-ups on a bilateral and multilateral basis for promoting the Indian deep tech sector for developing complex solutions in multiple sectors like education, healthcare, climate change, and importantly promoting digitization in the MSME sector," Sagar said.

Kamal Vachani, Regional Director of ESC-Dubai, said India's participation at GITEX 2024 is showcasing its cutting-edge products and solutions. "It is to demonstrate the gradual process of India assuming technology leadership," he said, adding that India is no longer a technology follower but a leader as well in certain segments of the ICT sector because of its unprecedented focus on innovation and R&D. The Middle East region, Vachani said, is one of India's important markets for Indian ICT products and IT solutions. There are untapped bilateral potentials for entering into business tie-ups in sectors including telecommunications, digitizing segments like utilities, tourism, financial services, and real estate, which are mutually beneficial.

He also called upon investors, particularly venture capitalists to invest in the deep tech areas in India, where the returns can be considerable. ESC signed two agreements at the inauguration of the GITEX 2024 as part of its drive to engage with similar organisations abroad and to create a platform for extended trade and investment negotiations. The first agreement was signed between ESC and Veracity Group of Sri Lanka. The other pact was inked between ESC and the Latvian Investment and Development Agency in the UAE. Sandeep Narula, Chairman (Global Outreach) ESC, signed on behalf of ESC and Arnis Celitans signed on behalf of the Latvian Investment Agency.