The American Business Magnate, William Henry Gates III; popularly known as Bill Gates once said; “The Internet is becoming the town square for the global village of tomorrow” which seemed a hardcore reality in the premises of Le Meridian Hotel, New Delhi. The auditorium of Le Meridian became the evidence of the right conglomeration when distinguished delegates from South Korea and India gathered together to discuss the various facades of the thriving digital industry.
The conference started with a departmental business matching where the various sectors of industry had a get together with each other. Even after being the digital content conference, it didn’t restrict itself to the digital platforms as it included Broadcasting, Film, Animation, Education and a lot others. After a brief coffee, there was an introduction of the digital heritage industry of Korea which gave way forward to the keynote speeches from eminent dignitaries. The session started with Man-Ho Song; Deputy Director, MSIT. Mr. Song focussed on the importance of digital content in this highly cluttered market which could help in creating a digital atmosphere between the two countries. He also mentioned the importance of free-flowing information between the corporates and the two countries which could assist not only in creating new avenues for business but also help them to reach their desired pinnacle. After the speech of Mr. Song, Ashok Kumar R. Parmar; Joint Secretary & CVO, Ministry of Information and Broadcasting (MIB) talked in length about the digital future of Indian film and cited the examples of various Bollywood Movies which have marketed well in the foreign market. He also elaborated how Korean companies can enter the Indian film industry which is a huge market in itself.
The session of speeches ended with the speech of Akram Hoque; Founding Editor; The Policy Times & Former Sr. Asst. Director; FICCI. Mr. Hoque talked about the shrinking market of the electronic and print media which is not only giving ways to digital media but also becomes feasible for an Indian startup where the fundings are the prime constraint. He also shared a data Ernst & Young Report which predicts the Indian digital segment to cross $200 Billion by 2020 at a CAGR (Compound Annual Growth Rate) of 14.3%. He also shed light on the changing face of the digital user in India through quoting a data from Internet & Mobile Association of India (IAMAI). He concluded the speech by citing the mutual benefits of collaboration between both countries as Korean companies specialize in technology and investments whereas India has talents and exciting startups.
The conference has undoubtedly been a meeting point for the doyens and the zealous entrepreneurs of both countries and provided a platform for exploring new business avenues.