Is Nasscom's New UK Forum Set to Transform India-UK Tech Collaboration?
Synopsis
Key Takeaways
- Nasscom launches a forum to enhance India-UK tech ties.
- Focus on driving investment and high-value jobs.
- Promotes collaboration in AI technologies.
- Multi-stakeholder partnerships will be built.
- UK is the second-largest market for India’s tech industry.
New Delhi, Nov 20 (NationPress) The National Association of Software and Service Companies (Nasscom) has officially launched a UK Forum aimed at enhancing the technology and trade relationship between India and the United Kingdom. This initiative seeks to strengthen bilateral cooperation, driving investment, innovation, and the creation of high-value digital jobs.
The forum is designed to serve as a pivotal platform for industry stakeholders to engage with both governments, focusing on technology as a catalyst for boosting bilateral trade.
Additionally, the Nasscom UK Forum is set to promote collaboration in AI technologies, aligning with the Technology Security Initiative (TSI), particularly within the public sector. India’s experience in AI implementation and digital public infrastructure is expected to assist the UK in enhancing citizen services on a large scale.
The forum will also prioritize AI readiness, workforce skill development, and the digital transformation of SMEs, while advocating for responsible AI practices and shared innovation models that will benefit both nations.
A multi-stakeholder strategic partnership will be established, engaging not just the governments, but also the technology sector, enterprises, associations, academia, think tanks, analysts, and the Indian diaspora.
During the launch, Nasscom introduced a compendium detailing the impact of Indian tech on the UK, showcasing the economic and social benefits brought by India's technology sector in areas such as innovation, talent development, research, and community engagement.
According to Peter Kyle, the UK's Business and Trade Secretary, “With the UK-India FTA now ratified, the introduction of the Nasscom UK Forum will fortify our trading relationship in the rapidly growing technology sector, unlocking vast opportunities for enterprises in both nations.”
The UK ranks as the second-largest market for India’s technology industry, with annual revenues surpassing $90 billion. The bilateral trade between India and the UK stands at $56 billion, which includes $33 billion in service trade, and the India-UK FTA aims to double this trade by 2030.