4 min readNew DelhiSep 24, 2024 07:50 AM IST
First published on: Sep 24, 2024 at 04:00 AM IST
Prime Minister Narendra Modi urged CEOs of US majors to take advantage of India’s growth story as the country is making all efforts to become the third largest economy of the world in his third term.
Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29).
Companies should take advantage of India’s growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country’s economic and technological growth, he said.
Assuring the business leaders of India’s deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors.
Modi asserted that his government was committed to making India a “global hub of semiconductor manufacturing”.
The meeting saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors.
“Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India,” Modi said in a post on X.
During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs statement.
Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayen, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting.
Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg.
Modi also talked about India’s BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India’s policy is to promote AI for all, underpinned by its ethical and responsible use.
Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter.
“Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India’s growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors,” the official account of the MEA said in a post on X.
Prime Minister Narendra Modi at a roundtable meeting with CEOs of large US tech firms organised by the MIT School of Engineering, in New York on Sunday. (PTI Photo) 
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