Innovation and Trade: GTIPA Summit 2024 Explores India’s Path to Sustainable Growth

Shiv Nadar University Hosts Groundbreaking GTIPA Summit on Global Trade and Innovation

Shiv Nadar University in collaboration with the Global Trade and Innovation Policy Alliance recently hosted the GTIPA Summit 2024, making it the first time this event was held in India. The summit convened global policymakers, industry leaders, and academic experts to discuss global trade innovation policies and strategies for sustainable economic growth. The theme of the GTIPA Summit 2024 was "India: The Innovation Hub for Tomorrow." The event attracted leaders from more than 35 countries, including representatives from the US, UK, and Asia Pacific. Among the attendees were diplomats, bureaucrats, industry CEOs, startup founders, and investors.

Key discussions at the summit focused on India's expanding influence in global semiconductor supply chains, as well as the role of regional innovation ecosystems in driving national economic growth. These conversations highlighted the growing importance of India as a key player in the global tech landscape, with an emphasis on fostering innovation and strengthening strategic sectors for the future.

Abhay Karandikar, Secretary of the Department of Science and Technology (DST), Ministry of Science and Technology, Government of India, addressed the gathering, offering valuable insights into India's rapidly growing innovation ecosystem. He underlined the significant rise of more than 10,000 deep-tech startups in fields such as artificial intelligence, clean energy, and biotechnology, successfully translating academic research into commercial ventures.  

Montek Singh Ahluwalia, the former Deputy Chairman of the Planning Commission of India, emphasised that innovation flourishes on creative destruction and is a process of replacing outdated systems with more efficient ones. India is empowered in the software and emerging sectors like drones, which present a unique opportunity for the country to develop globally competitive products. However, it is important to foster a more open trade regime that would allow startups to not only grow but also achieve profitability and long-term sustainability. He also acknowledged the crucial role of institutions like Shiv Nadar University in nurturing talent and fostering innovation that will shape future industries.

The GTIPA Summit 2024 held at Shiv Nadar University highlighted India's growing prominence as a global innovation hub. As India has a lot of potential to expand in emerging sectors, with a more open trade regime to support startups and drive sustainable growth, the country can achieve new milestones.

Editor’s Note:

India is emerging as a global innovation hub, firmly establishing itself as a key player in global trade and technology. The GTIPA Summit 2024 stands as a pivotal event, bringing together pioneers from 35 countries to discuss how India can lead in critical sectors such as semiconductors, AI, and clean energy. The summit reinforced the nation’s potential to drive sustainable economic growth through innovation.
The discussions, led by influential figures like Abhay Karandikar and Montek Singh Ahluwalia, highlighted the importance of fostering an open trade regime, nurturing deep-tech startups, and strengthening regional innovation ecosystems. As India continues to advance, events like this underline the crucial role institutions like Shiv Nadar University play in cultivating the talent and ideas that will shape the industries of tomorrow.

Skoobuzz believes that the collaboration between industry and academia will be a key driver in India’s journey towards becoming a global leader in innovation, ensuring long-term growth and success in these transformative sectors.