Tech3 | US tech giants back Modi's AI push; ONDC's handouts surge 2,700% in FY24; and more

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In today’s newsletter:?

• US tech giants back Modi's AI push
• ONDC's handouts surge 2,700% in FY24
• NCPCR demands DPDP Act compliance from social media firms

US tech giants back Modi's AI push

"For the world, AI means artificial intelligence, but for me, AI also means American-Indian spirit. This is the new 'AI' power of the world"?

This was Prime Minister Narendra Modi while addressing a packed audience of the Indian diaspora at Nassau Coliseum in New York on Sunday night.

• PM Modi is currently on a three-day visit to the US, during which he attended the QUAD summit and held bilateral meetings with US President Joe Biden, Australian Prime Minister Anthony Albanese, and Japanese Prime Minister Fumio Kishida.

Capitalise on India's growth story: During his visit, PM Modi also attended a roundtable with tech CEOs from 15 prominent US-based firms specialising in cutting-edge technologies such as AI, quantum computing, and semiconductors.?

• This included Google’s Sundar Pichai, Nvidia’s Jensen Huang, Adobe’s Shantanu Narayen, IBM’s Arvind Krishna, Accenture’s Julie Sweet, and AMD's Lisa Su

At the roundtable, PM Modi discussed his vision of making India the world's third-largest economy and encouraged companies to tap into India's growth story for further collaboration and innovation .

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What did CEOs say??

Sundar Pichai: He (PM Modi) is really thinking about how AI can transform India in a way that benefits the people of India. He challenged us to think about applications in healthcare, education, agriculture...He pushed us to continue making in India, designing in India...He has always challenged all of us to do more for India. Now, he is asking us to do the same with AI. Watch video

Jensen Huang: This is India's moment, you have to seize the opportunity...India is home to the third-largest startup economy, and to support this new generation of AI-driven startups, robust AI infrastructure is essential...India is also home of some of the world’s greatest computer scientists. So, this is a great opportunity...I’m looking forward to partnering with India in a very deep way to make that possible. Watch video

Semicon focus: In addition to talks on AI, India is set to establish its first national security semiconductor fabrication plant in collaboration with the US.?

• The proposed plant is aimed at producing chips for military hardware and critical telecommunications and electronics

• It will manufacture infrared, gallium nitride, and silicon carbide semiconductors

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