Digital Economy to boost trade between India & SEA

Aug 24, 2021

Southeast Asia regroups some of the world's fastest growing economies. The digital technology sector is currently booming in Southeast Asia, thanks to the rapid development of IoT, IT infrastructure. More mature markets like Singapore and Malaysia are not left aside as they harbor diversified eco-systems for tech start-ups to grow and providing significant sources of revenues for e-commerce and digital services companies. Southeast Asia is experiencing rapid growth of the Internet, digital, social media and mobile activities. With the growing numbers of Internet users in and double-digit growth in most segments and most countries of the region, the digital sector is booming and attracting a lot of interests. In this context World Trade Center Bhubaneswar in collaboration with Quocent, Batoi Systems Pvt Ltd, Electronic & Software Export Promotion Council of India and Sri Sri University organized a virtual session on “Exploring Business with South East Asia with focus on Digital Economy Electronics & Information Technology and with Malaysia as the focus country”

Mr. Ashwini Rath, CEO, Batoi Systems Pvt Ltd in his address highlighted the significant focus on cloud computing, AI, IoT and other frontier technologies in the last decade. He deliberated on the importance and pushed for the adoption of latest technologies in production, logistics and along the entire supply chain. He asserted that the idea of Industry 4.0 led to new ways of doing things. Analysing the situation created by the pandemic he spoke about the multiple challenges being faced specially by the SMEs and how difficult it has become to avoid a break in such interdependent supply chains. He advocated for collaboration between SMEs across geographies as the need of the hour. “Complementing the capabilities to create a robust supply chain - this will ultimately trigger successful outcomes for survival. The business will then thrive too.” he said.

Mr. Manas Panda, Director, Software Technology Parks of India (STPI), Bhubaneswar in his deliberation spoke about the various initiatives of STPI in IT and Electronics Sector. He showcased the infrastructural development and reforms that took place in Odisha over the years and how it has added to the services export potentials of the State. He also highlighted the achievements of the sector for which STPI has been pivotal.

Mr. Gurmeet Singh, Executive Director, Electronic and Computer Software Export Promotion Council of India in his talk spoke about the progress in the IT sector especially during the pandemic. He spoke about the progress of digitalization in India over an era and how the transformation through visions such as Digital India took shape into reality making India one of the fastest growing IT hub. While hailing the vast scope and intellectual strength of the country particularly in the IT sector he advocated for an affordable yet inclusive and transformative approach for rapid growth of the sector.

Dr. Moses Wong Sin Fatt, President, World Consumer Protection Chamber of Commerce (WCPCC), Malaysia in his address shared details of WCPCC. While detailing about the inception of the Chamber Dr. Moses outlined its objective of helping the MSMEs getting connected with genuine companies and save them from being scammed. He also spoke on Cyber Security as a crucial factor for the flourishing digital economy across the globe which shall further ensure to accelerate trade relations between nations.

Vicky Tham Chun Loong, Co-Founder of Popillol Sdn Bhd, Digital Communication and Creative Head of Quocent in Malaysia in his deliberation spoke about digitalization and how it helps in enhancing connectivity. He spoke about the availability of aids for creating better accessibility to the global markets. He highlighted on the pandemic acting as a catalyst for business and trade between India and Malaysia.

Mr. Saswat Panda, CEO, Quocent spoke in brief about his experience and entrepreneurial journey of establishing business in Malaysia.
Prof. R.N. Satpathy, Director O/o Vice-Chancellor & Dean of the Faculty of Emerging Technologies and Science (In Special Charge) Sri Sri University made a presentation on the opportunities available in digital economy in terms of digital entrepreneurship and the road ahead with the industry, education and the Government services available.

Earlier Ms. Nimeshika Natarajan, Assistant Director, World Trade Center Bhubaneswar took the opportunity to welcome the guest speakers and attendees to the webinar. She highlighted the objective of the webinar and also shared details about the various facilities and services offered by the WTCs and its network across the SEA region. She also proposed the vote of thanks.