Prime Minister Narendra Modi has expressed his government’s resolve to make India the third-largest economy in the world during his third term.

Expressing his government’s commitment to making India a global semiconductor manufacturing hub, he highlighted the economic transformation happening in India, particularly in electronics and information technology manufacturing, semiconductors, biotech and green development.

The PM was interacting with technology industry leaders in New York in a Roundtable anchored by the Massachusetts Institute of Technology (MIT), School of Engineering.

The tech-roundtable focused on Artificial Intelligence and Quantum; Biotechnology and Life Sciences; Computing, IT and Communication; and Semiconductor technologies.

The CEOs participated in a deep dive with the PM on the evolving technology landscape at a global level and how these cutting-edge technologies are contributing to the well-being of people around the world including in India.

They touched upon how technology is being leveraged for innovations, which have the potential to revolutionize the global economy and human development.
Mr Modi appreciated the efforts of the MIT School of Engineering and its Dean for bringing the technology leaders together.

He noted that 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.

The PM stressed that in his third term, India will make every effort to become the third-largest economy in the world. He encouraged the companies to take advantage of India’s growth story for collaboration and innovation. They can co-develop, co-design, and co-produce in India for the world, harnessing the opportunities from India’s economic and technological growth.

He assured the business leaders of India’s deep commitment to the protection of intellectual property and to fostering tech-innovation, he said.

The PM 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 CEOs expressed their strong interest in investing and collaborating with India. India’s growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities, got much appreciation from the tech-leaders. They also agreed that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in India.

MIT Professor Anantha Chandrakasan, Chief Innovation and Strategy Officer at the Institute and Dean of the MIT School of Engineering, who chaired the roundtable, thanked the PM and CEOs for their participation, affirming MIT’s commitment to advancing technology and making it accessible for global good.

Those who participated in the roundtable included: Ms. Julie Sweet, CEO OF Accenture, Mr. Shantanu Narayen, Chairman, President, and CEO OF Adobe, Ms. Lisa Su, CEO OF AMD, Mr. Chris Viehbacher, CEO OF Biogen Inc, Mr. Chris Boerner, CEO OF Bristol Myers Squibb, Mr. David A. Ricks, CEO OF Eli Lilly and Company, Mr. Sundar Pichai , CEO OF Google, Mr. Enrique Lores, CEO & President OF HP Inc., Mr. Arvind Krishna, CEO OF IBM, Mr. Tim Archer, CEO OF LAM Research, Dr. Noubar Afeyan, Chairman OF Moderna, Mr. Hans Vestberg, Chairman and CEO OF Verizon, Mr. Thomas Caulfield, CEO OF Global Foundaries, Mr. Jensen Huang, Founder, President and CEO OF NVIDIA and Mr. Martin Schroeter, CEO OF Kyndryl.