India's progress in fostering an ecosystem conducive to innovation was collectively praised
Prime Minister Narendra Modi held an important roundtable meeting with leading technology industry CEOs in New York on Sunday (September 22, 2024), aiming to bolster cooperation between India and the United States in cutting-edge sectors such as Artificial Intelligence (AI), Quantum Computing, Biotechnology, Life Sciences, Information Technology, and Semiconductors. The event, anchored by the Massachusetts Institute of Technology (MIT) School of Engineering, provided a platform for an in-depth discussion on how emerging technologies can drive global progress.

During the roundtable, Prime Minister Modi engaged with top executives from major American tech companies. He expressed his appreciation for MIT's School of Engineering and its Dean, Professor Anantha Chandrakasan, for bringing together a distinguished group of technology leaders. The discussion revolved around the rapidly evolving global technology landscape, with a focus on how advancements in AI, quantum computing, and semiconductors could contribute to human development and economic growth.

Prime Minister Modi reiterated that technology collaboration is at the heart of the India-US Comprehensive Global Strategic Partnership. Initiatives such as the Initiative on Critical and Emerging Technologies (ICET), which fosters collaboration in cutting-edge areas, are vital in shaping the future of this partnership. 

‘Co-develop, Co-design, and Co-produce in India for the World’
Prime Minister Modi emphasized that, in his third term as Prime Minister, India is poised to become the world’s third-largest economy, and he invited companies to seize the opportunities arising from India’s dynamic growth. “You can co-develop, co-design, and co-produce in India for the world,” he said, assuring the business leaders of India’s commitment to intellectual property protection and fostering a conducive environment for innovation.

Prime Minister Modi used the platform to highlight India's economic transformation, particularly in the fields of electronics manufacturing, semiconductors, biotechnology, and green development. He pointed out that his government is committed to making India a global hub for semiconductor manufacturing, a key industry for future technologies.

The tech CEOs attending the roundtable expressed keen interest in expanding their investments and collaborations in India. They acknowledged India’s rise as a global technology hub and praised its innovation-friendly policies. Several CEOs also emphasized the potential for investing in Indian startups to leverage the country’s growing pool of talent and entrepreneurial spirit. This, they noted, would drive synergies in developing new technologies across sectors like AI, semiconductors, and biotechnology.

The CEOs also discussed how the India-US partnership could advance technology-driven solutions to global challenges, from healthcare to sustainable development. Modi's push for co-development and co-innovation resonated strongly with the executives, as they agreed on the critical need to work together to address global technological challenges while enhancing India’s role as a key player in the global tech ecosystem.

MIT Professor Anantha Chandrakasan, who chaired the roundtable, thanked Prime Minister Modi and the CEOs for their participation and reaffirmed MIT’s dedication to advancing technological innovation for the betterment of society. 

CEOs Acknowledge Opportunities Presented by India’s Rapid Digital Expansion
A select group of CEOs from leading technology companies participated in the roundtable, representing diverse industries such as AI, computing, semiconductors, biotechnology, and telecommunications. The CEOs 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 GlobalFoundries
Mr. Jensen Huang, Founder, President, and CEO of NVIDIA
Mr. Martin Schroeter, CEO of Kyndryl

These prominent leaders collectively praised India's progress in fostering an ecosystem conducive to innovation and underscored the opportunities presented by India’s rapidly expanding digital and technological infrastructure.

Prime Minister Modi’s interaction with tech leaders comes at a time when India is positioning itself as a key player in global technology and innovation. His government’s policies, aimed at making India a global leader in areas such as semiconductor manufacturing and biotech development, have opened vast opportunities for collaboration with global technology giants.

The CEOs acknowledged India’s strategic importance as a technology hub, with several expressing optimism about future investments in the country. Prime Minister Modiencouraged continued collaboration, urging companies to capitalize on India’s growing technological prowess and to partner in building cutting-edge solutions that can benefit both India and the world. As he concluded the roundtable, he reiterated India’s commitment to creating a strong, innovation-driven ecosystem that aligns with global standards of technological excellence. 

Prime Minister Modi’s visit to the United States, and particularly his engagement with leading tech CEOs, reflects India’s growing significance in the global technology landscape. As India continues to innovate, attract investment, and expand its influence in high-tech sectors, the India-US partnership remains a cornerstone of this journey toward a more prosperous, technologically advanced future.