In Meet With US Tech CEOs, PM Modi Says India To Invest $15 Billion In Semiconductor Sector

In a roundtable with top leaders of technology companies in New York, Prime Minister Narendra Modi on Sunday underlined India’s growing prowess in emerging tech areas and said that the country is moving forward with an ambitious USD 15 billion investment in the semiconductor field.

Addressing leaders of US tech giants, Modi underscored India’s potential to become a global partner in the semiconductor sector and highlighted how technological advancements in the country can drive innovation. The meeting, attended by the likes of Google’s Sundar Pichai and Nvidia’s Jensen Huang, took place at the Lotte New York Palace Hotel during the second leg of Modi’s three-day US visit.

The event focused on artificial intelligence, quantum technology, biotechnology, life sciences, IT and communications, and semiconductor technologies. During the meeting, the Prime Minister spoke about India’s growing appeal as a destination for semiconductor investment, citing a positive reception for the country’s new policies in this sector.

‘India has significant potential’

“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,” he said.

In a spirited address, PM Modi reflected on the progress made over the past year and the promising future of India as a key player in the global economy. A year after a similar gathering of CEOs was addressed by PM Modi in Washington, he expressed appreciation for the positive attitude towards India, saying, “It feels so good when you all talk about India and its bright future.”

‘You all have worked with India’

Asserting the need for a balance between technology and democracy, the Prime Minister stated the importance of collaboration while highlighting the technological transformation shaping the 21st century. Making a pitch for India as a prime destination for investment, PM Modi said that India possesses a unique combination of talent, a growing market and a democratic framework, presenting a rare opportunity for investors.

“You all have worked with India and other global partners, and you can compare India with others,” he said. He described India as an ambitious nation, one of the fastest-growing economies, and expressed confidence in achieving the status of the world’s third-largest economy in his third term. “For any country, policy stability is very important, and India is now a front-runner in stable and predictable policy,” Modi concluded, inviting global leaders to engage further with India’s transformative journey.