India to invest $15 billion in semiconductor sector: PM Modi to US tech CEOs
- In Reports
- 01:03 PM, Sep 23, 2024
- Myind Staff
Prime Minister Narendra Modi emphasised that India is still leading the world in emerging technologies during his meeting with executives of leading tech companies in New York. He further declared that India aims to make strides in the field of semiconductors with a whopping investment of 15 billion USD.
During his meeting with the top leaders in the field, Modi shed light on how India can grow into a major global partner and how the nation's technological advancements can spur innovation. Modi's three-day US visit included a meeting at the Lotte New York Palace Hotel, which was attended by prominent figures such as Sundar Pichai from Google and Jensen Huang from Nvidia.
Artificial intelligence, semiconductor technologies, biotechnology, life sciences, IT and communications, and quantum technology were the main topics of discussion at the event. The Prime Minister discussed India's increasing attraction as a location for semiconductor investment during the meeting, noting favourable feedback for the nation's recent initiatives in this field. He went on saying, “The policy we introduced on semiconductors and chips is being well received in India, and those involved in this sector are very excited to invest in the country. We are placing a strong emphasis on design in India. India has significant potential to become a reliable partner in global semiconductor supply chain systems.”
In an animated speech, Prime Minister Modi reviewed the accomplishments of the previous year and the bright future of India as an important player in the global economy. A year after PM Modi spoke to a similar group of CEOs in Washington, he thanked everyone for their positive outlook on India. “It feels so good when you all talk about India and its bright future,” he stated.
“You all have worked with India and other global partners, and you can compare India with others. For any country, policy stability is very important, and India is now a front-runner in stable and predictable policy,” Modi concluded.
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