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Prime Minister Narendra Modi said that the 21st century is technology-driven and there is a need to balance technology with democratic values for human welfare. Prime Minister said this during his interaction with tech industry leaders in New York in a roundtable anchored by the Massachusetts Institute of Technology (MIT), School of Engineering. PM Modi added that technology without democratic values creates an environment for crisis and India is a country which has talent, democracy and a market.
Addressing the industry leaders, PM Modi said that he always sees them as fellow travellers and co-partners in the development journey of a self-reliant and strong India. He expressed confidence that together, tech companies from India and America will play an important role in solving global challenges.
PM Modi added that when the world’s largest democracy grows rapidly, it also assures global peace and prosperity. Highlighting technology as an important pillar of India’s journey towards developed India, the Prime Minister said that today his government has created unprecedented possibilities for technological collaboration and investment in India.
PM added that today, the Indian governance model is not just policy-driven, but is also based on stable and predictable policies giving assurance to investors in every sector. He said that the Indian government has made investments worth 15 billion dollars in the semiconductor industry and India is also receiving huge investments from all over the world in this sector.
He 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. He added that the leading companies 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.
Prime Minister highlighted the economic transformation happening in India, particularly in electronics and information technology manufacturing, semiconductors, biotech and green development. He also dwelt on India’s BIO E3 policy to develop India into a biotech powerhouse.
The attending 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.
The list of CEOs who attended the meeting include Chairman, President and CEO of Adobe, Shantanu Narayen; Google CEO Sundar Pichai, IBM CEO Arvind Krishna, Accenture CEO Julie Sweet, among others.