The Institution of Engineering and Technology (IET) Successfully Concludes the Future Tech Congress 2024

NewsVoir
Bengaluru (Karnataka) [India], September 10: The Institution of Engineering and Technology (IET) hosted the 6th edition of Future Tech Congress, a national technology conference, focusing on the theme "India's Component Conundrum", today at Sheraton, Whitefield, Bengaluru. The one-day event brought together industry experts and thought leaders to discuss the critical challenges and opportunities in building a robust Electronic System Design and Manufacturing (ESDM) ecosystem. The conference concluded with insightful conversations and actionable recommendations for stakeholders to drive growth and innovation in India's ESDM sector.
The event was graced by Padma Bhushan recipient, Dr. Arogyaswamy Paulraj, Indian-American electrical engineer and academic who closed the day's proceedings. he said, Delivering the Super Keynote he said, "India stands at a critical juncture where fostering innovation, persistence, and entrepreneurship is essential to building a robust domestic capability in electronic components, particularly semiconductors. While the nation has successfully attracted substantial R&D services, it's time to ascend the value chain and become competitive in high-tech and deep-tech sectors. The semiconductor industry is intricately globalized, with specialized roles across different countries. India boasts a strong talent pool of chip designers, yet to excel in advanced segments, it must address challenges such as intellectual property, high skill requirements, and intense R&D demands. As advanced technology is not easily shared, India must strive to emerge as a key player on the global stage, not only for its economic and technological prowess but also for its values and commitment to its people."
The Future Tech Congress (2024) this year addressed emphasized the urgent need for India to reduce its dependency on imported components, pivotal in realizing the nation's ambitious $30 trillion economy goal by 2047. The event featured leadership panels, keynote speeches, and showcased various use-cases, effectively addressing the gaps in the industry. The discussions were centered around 3 key technologies - Generative AI, Industrial Metaverse and Quantum Technologies and on 3 rapidly developing sectors - Healthcare, Manufacturing and Mobility.
The event featured prominent speakers and dignitaries, who sparked engaging discussions, such as Abhijeet Sinha, Program Director, Ease of Doing Business (EoDB), Ramakrishna Srinivasa, Vice President & CTO - Global Digital Customer Experience (DCX), Capegemini, Sandeep Nelamangala, President, Bosch Mobility India, Panjak Vyas, CEO and MD, Siemens Technology and Services Pvt. Ltd., Shanker Kaul, Managing Director, Elsevier, Nikhil Malhotra, Chief Innovation Officer , Head Emerging Technologies - WEF AI and Quantum Fellow, Tech Mahindra, Dr Gopichand Katragadda - Founder & CEO, Myelin Foundry and many others.
Addressing the gathering, Shekhar Sanyal, Country Head and Director, IET India, "We envisioned the sixth edition of the IET Future Tech Congress to transcend the traditional conference format, becoming an open platform for in-depth technological discourse and debate, and we managed to achieve that. Given the global challenges posed by component supply chain disruptions, we recognized the importance of focusing on the need for a robust Electronics System Design and Manufacturing (ESDM) ecosystem in India, and this year's FTC edition was curated with this in mind. This ecosystem is pivotal in driving India's digital transformation journey and is essential for fostering technological innovation. Whether it's Generative AI, the Industrial Metaverse, or Quantum Computing, access to high-quality components is fundamental to advancing these cutting-edge technologies. I believe that the Future Tech Congress will continue to be a marquee platform where the technology community can engage in meaningful and impactful discussions on the future of technology. I eagerly anticipate the evolution of future editions and the conversations they will spark."
Speaking at the event, Dr Rishi Bhatnagar, Chair, IET India Future Tech Panel said, "From sophisticated processors to specialized hardware and quantum-specific elements, these critical components are the building blocks of innovation, enabling scalability and progress across transformative tech fields. The Future Tech Congress 2024 has brought to the forefront the urgent need to address India's 'Component Conundrum' by focusing on strategies that boost the indigenization of electronic component manufacturing, ensuring that India can lead in technology development on a global scale."
Highlighting India's evolving mobility landscape, Sandeep Nelamangala, President, Bosch Mobility, India said, "In navigating the evolving mobility industry, it's crucial to stay attuned to the transformative trends shaping the future, whether they materialize by 2030 or 2031. While unit economics, safety, and convenience remain pivotal, it's clear that there isn't a one-size-fits-all approach across the market. For instance, in heavy-duty applications, we anticipate a slower rate of electrification. Conversely, the past three years have seen significant advancements in safety and driver system adaptation within mobility. As we transition from traditional business models, where we once led with embedded technology, it's evident that the era of such technologies is giving way to new innovations and approaches. The industry's direction underscores the importance of embracing change and remaining adaptable in this dynamic landscape."
Speaking on the advent of Industrial Metaverse, Pankaj Vyas, CEO & MD, Siemens Technology & Services, states, "The Industrial Metaverse represents the convergence of multiple technologies like simulation and digital twin, AI/ML, Edge Computing etc, offering a photo-realistic, immersive, interactive, and collaborative solution for manufacturers to tackle complex challenges. It's more than just a digital twin; It's a comprehensive and dynamic platform that simulates real-world experiences, enabling users to modify parameters and evaluate probabilities. Adoption of this will allow for lesser trials on the work floor, a faster turn around time, and drive positive eventual outcomes."
Shedding light on the Future of Integrated Healthcare and the technologies that will drive the future of healthcare, Shanker Kaul, MD - Health Solutions India, Elsevier said, "Access remains the paramount challenge in India's healthcare landscape, with a significant population still residing in rural areas where high mortality rates persist. By empowering and upskilling ASHA workers through integrated technological solutions, we can bridge the gap in longitudinal care, ensuring that every mother and child receives the attention they deserve. Our pilot programs have demonstrated that with government intervention and robust data integration, we can create a sustainable and equitable healthcare ecosystem for millions."
The Technology and Electronics sector is one of the most significant growth enablers for the Indian economy. It has played a pivotal role in driving innovation and economic advancement, contributing substantially to the nation's GDP. With a growing focus on developing a robust Electronics System Design and Manufacturing (ESDM) ecosystem, India is poised to increase its share in the global technology market, aiming to contribute 10% to the GDP by 2025. The Future Tech Congress, organized by the IET, is a platform designed to spotlight the critical advancements and innovations within the technology and components sector, including Generative AI, the Metaverse, and Quantum Computing
The IET is one of the world's largest engineering institutions with over 168,000 members in 150 countries. It is also the most multidisciplinary - reflecting the increasingly diverse nature of engineering in the 21st century. The IET is working to help engineer a better world by inspiring, informing and influencing its members, engineers and technicians and all those who are touched by or touch the work of engineers.
The India chapter of IET started operations in India in 2006, from Bangalore. Today, the organization has over 13,000 members and the largest membership base for the IET outside of the U.K. Given the increasing global importance of India as an engineering hub, its aim is to make an impact that has relevance both locally and internationally. Its strategy is to bring a telling difference to the overall competency and skill levels within the Indian engineering community and play an influencing role with Industry in relation to technology innovation and solving problems of public importance. The organization plans to do this through partnership with Industry, academia and the Government, focusing on the application of practical skills within both learning and career life cycles, and driving innovation and thought leadership through high impact sectors.
For more information: india.theiet.org.
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