US-India Conference Explores Trade, AI, Geopolitical Challenges
Photo: (Left to Right) Rekha Sethi, Director General, All India Management Association, Shankar Trivedi, Senior VP, Enterprise Business, NVIDIA, Sunil Munjal, Chairman, AIMA International, K. Srikar Reddy, Consul General of India at San Francisco
By Vartika Goyal and Megha Agrawal
SANTA CLARA, CA – The 7th US-India Conference was held at UC Santa Cruz’s Silicon Valley Campus here, on October 1 with approximately 100 participants in attendance. The conference brought together thought leaders, academics, and industry professionals to explore the evolving dynamics of the US-India relationship. Through a series of thought-provoking panels, the discussions focused on critical topics such as trade, technology, artificial intelligence, and the geopolitical shifts affecting both nations.
The conference opened with a session titled “India & US: Trade-linked, Tech-Driven, Trust-Based,” emphasizing the pivotal relationship between the two nations in shaping global economic and technological landscapes. Cynthia Larive, Chancellor of UC Santa Cruz, welcomed the attendees and highlighted the need for stronger US-India ties. She remarked, “The partnership between India and the US is not just important but essential for global stability in the 21st century.”
Rekha Sethi, Director General of All India Management Association, stressed the importance of moving beyond rhetoric and translating diplomatic engagements into concrete actions. “We must create real pathways for the flow of people, goods, technology, and capital between our two nations,” she urged.
Echoing this sentiment, Sunil Kant Munjal, Chairman of AIMA International and The Hero Enterprise called for immediate action in key sectors like advanced computing and green energy. He emphasized, “We need swift, tangible outcomes in advanced technology sectors like green energy. The absence of a formal trade agreement should not hinder us from creating a robust framework for deeper economic ties.”
In a keynote address, K. Srikar Reddy, the Consul General of India in San Francisco, underscored the opportunities for deeper economic integration and collaboration. Galina Hale, Professor of Economics at UC Santa Cruz, who summed up the discussions, emphasizing the need for a formalized Free Trade Agreement and balanced trade policies.
The next panel, AI and the Economy, moderated by Vikram Chandra, Founder of Editorji Technologies, focused on the transformative role of AI in the global economy. Shankar Trivedi, Senior Vice President at NVIDIA, described AI’s potential as an “AI factory,” converting computational power into intelligent solutions to revolutionize industries. He noted, “AI is transforming industries, and we must focus on solving real-world problems through AI, while ensuring robust regulations to guide its ethical use.”
Gopal Krishna, Segment Business Head at TCS, shared insights on AI’s potential to revolutionize education, healthcare, and manufacturing. He explained, “AI is software writing software, capable of creating real-time feedback and insights to transform industries like education.”
David Haussler, Distinguished Professor at UC Santa Cruz, highlighted AI’s ability to enhance, not replace, human capabilities, particularly in life sciences. He noted, “AI can help us unlock new discoveries in biology and improve health outcomes, offering tremendous benefits in fields like genomics.”
The panelists also tackled the growing concern around job displacement due to AI. Trivedi reassured the audience, “AI will not replace jobs but will evolve them, just like computers did with typewriters.” The panel emphasized the importance of workforce upskilling and international collaboration on AI regulations.
Geopolitical Dynamics in Asia was the next panel session chaired by Sunil Kant Munjal, addressed the geopolitical shifts in Asia, exploring the roles of India and the US. Philip Reiner, CEO of the Institute for Security and Technology, raised concerns about escalating tensions among rising powers like China and India. He warned, “If the rise of great powers is not carefully managed, we could see an escalation in regional conflicts.”
Arun Kumar, Managing Partner, Celesta Capital, highlighted the significant changes in the geopolitical landscape, particularly in Asia, and emphasized the critical role of the US and India in managing the dynamics of regional power. He expressed concern about the potential for conflict arising from the rise of great nations like China and India if relationships are not managed carefully. Kumar also referenced his book, “Kerala’s Economy: Crouching Tiger, Sacred Cows,” underscoring Kerala’s advanced economy and effective social policies that have helped reduce poverty.
Vineet Agarwal, Managing Director, Transport Corporation of India Limited, addressed the pressing need to balance research and development with the rapid advancements in Generative AI. He stated, “We must put all safeguards that we can, companies should come together and put a protocol for training entire system”. Agarwal advocated for collaboration among companies to address industry challenges and ensure responsible AI deployment, underscoring that the future of technological advancement must prioritize ethical considerations and societal impacts.
R Mukundan, Managing Director & CEO of Tata Chemicals, stressed the need for diversified and resilient supply chains to reduce dependency on China, particularly in critical industries like electric vehicle components. He stated, “We must create sustainable, resilient supply chains that do not rely on any single nation.”
Sustainability was another key topic, with panelists calling for businesses to adopt greener practices. Mukundan advocated for cleaner transportation methods in India, particularly rail transport, to help decarbonize the economy. “Sustainability should be at the forefront of business strategies moving forward,” he emphasized.
The final session, moderated by Lori Kletzer, Campus Provost and Executive Vice Chancellor, UC Santa Cruz, addressed the state of the world economy post-pandemic. Sanjay Kirloskar, Chairman & Managing Director of Kirloskar Brothers Ltd, expressed optimism about the resilience of major economies and the role of automation in driving future growth. He noted, “Automation and AI will be the engines powering the next phase of global economic development.”
Pramod Bhasin, Founder of Genpact, and Chairman, Clix Capital Services, highlighted the need for innovative leadership, stating, “We lack visionary leaders capable of guiding us through the current economic challenges.” He also stressed the importance of startups in driving innovation, while acknowledging the need for more job creation.
Navneet Chugh, Managing Partner at Chugh, LLP, discussed the urgent need for India to better utilize its vast workforce, particularly women. “Only about 20% of women in India are currently part of the workforce. Engaging this untapped resource is essential for economic growth,” he pointed out.
The session concluded with Nirvikar Singh, Distinguished Professor of Economics at UC Santa Cruz, calling for a reimagined global economic governance framework. He emphasized the need for international cooperation to address climate change and economic inequality, stating, “Global governance needs a refresh if we are to effectively tackle existential challenges like climate change.”
The conference discussions emphasized the importance of strategic partnerships, economic collaboration, and innovative leadership in navigating the complex challenges of the 21st century.