Prime Minister Narendra Modi is betting big on India’s growth trajectory. On Sunday, India’s prime minister highlighted the country’s vision to “become the third-largest economy in the world in his third term” at a roundtable meeting with MIT School of Engineering Tech CEOs in New York. The meeting took place at the Lotte New York Palace Hotel on Sunday during the second leg of PM Modi’s three-day U.S. visit. Notable attendees included Google CEO Sundar Pichai, Adobe CEO Shantanu Narayen, and the brains behind Nvidia, Jensen Huang.
Addressing the tech CEOs’ roundtable in New York.https://t.co/dMqsJpP1DE
— Narendra Modi (@narendramodi) September 23, 2024
PM Modi shared India’s growth story as a hook for forging global collaborations in development, design, and production in India. The Indian Prime Minister emphasized India’s commitment to “the protection of intellectual property and to fostering tech innovation.” He asserted that under his leadership, India aims to become the “global hub of semiconductor manufacturing.”.
Google’s Sundar Pichai elaborated on PM Modi’s address, stating that the Indian PM always encouraged Google’s expansion into India. “He is asking to do the same with AI. He has a clear vision, both in terms of the opportunity AI will create, but he wants to make sure that ultimately AI is there to benefit the people of India.”
Tech tycoon Jensen Huang referred to Prime Minister Modi as an “incredible student.” Huang added, “Every time I meet him, he wants to learn more about the technology. Artificial intelligence is a new industry, and I am looking forward to partnering with India. We are partnering with many companies, start-ups, and IITs in India.”
In an official statement, the Indian Ministry of External Affairs stated that the roundtable focused on “artificial intelligence and quantum; biotechnology and life sciences; computing, IT, and communication; and semiconductor technologies.”
MEA added, “He [PM Modi] also dwelt on India’s BIO E3 policy to develop India into a biotech powerhouse. On AI, he noted that India’s policy is to promote AI for all, underpinned by its ethical and responsible use.”
The global AI chip market is forecast to hit $71.3 billion by the end of 2024, and India is vying for a slice of this lucrative pie. Strategic collaborations include India’s tie-up with the US Space Force to supply Made-in-India chips to US armed forces, allied militaries, and Indian defense.
Though nascent, India’s semiconductor industry shows promise as it seeks global collaborations to inspire national innovation in the ever-evolving AI race.
