India’s economy continues to grow at a rapid pace and opportunities for UK tech companies to supply large corporations who are looking for innovative solutions, and System Integrators who are looking for solutions to integrate into their Indian and wider global contracts.
This trade delegation will look at the tech verticals of Artificial Intelligence and Semiconductors.
Artificial Intelligence
India’s AI ecosystem is rapidly growing, with vast pools of talent to draw upon, the sector is estimated to be valued at $17bn by 2027.
Large tech giants, like Nvidia an CSIR are collaborating with institutions such as IIT Delhi to undertake research and development projects; meanwhile India’s start up ecosystem is scaling at pace. Key areas of interest for the sector include finance, agriculture, health and education by utilising machine learning, computer version and natural language processing technologies. Inclusive AI development is of particular interest in India given the linguistic diversity across the country is requiring innovative approaches to preserve and revitalise languages through AI.
Semiconductors
The Indian semiconductor market reached a value of $34.3bn in 2023 and is projected to attain $100.2bn by 2032, largely driven by a desire for building up a sovereign capability and the growing popularity and production of electric vehicles (EVs). The EV sector is specifically looking for semiconductors used in fields including safety, electrification, communication, and networking. India’s semiconductor consumption is expected to be valued at £86bn by 2030.
The country aims to enhance its manufacturing capacity for export-oriented component production, resulting in a surge in research and development (R&D), testing activities, and technological capabilities. This expansion aligns with India’s extensive experience in semiconductor design, boasting 20% of the world’s integrated circuit (IC) design workforce, comprising over 125,000 workers. The Indian Government has identified over 300 universities to offer semiconductor courses over the coming years.
How to attend this event
Registration Closes at 23:59 BST on 6th September 2024 – register now here.