Mera Saansad
Search Search
Odia language

Prime Minister Modi meets business leaders in Saudi Arabia

Published By : Admin | April 3, 2016 | 13:40 IST
Prime Minister Narendra Modi holds talks with business leaders of Saudi Arabia
India’s strength rests on three pillars –demographic dividend, demand and democracy: PM
Government working towards establishing a predictable long term taxation regime: PM
Tremendous opportunities for expanding India-Saudi Arabia ties in petroleum, renewable energy, infrastructure, defence, agriculture: PM
India and Saudi Arabia shall look at working together for building a dynamic global management sector for the cyber world: PM Modi

The Prime Minister, Shri Narendra Modi, today interacted with 30 Saudi CEOs and Indian business leaders in Riyadh. He described India and Saudi Arabia as old friends, ready to take bold new steps to a golden future.

Emphasizing the strength of ties between the two countries, he recalled King Salman mentioning that he was taught by an Indian teacher.

He said India had a unique combination of democracy, demography and demand, and several policy initiatives had been taken over the last two years to spur growth and progress.

Speaking about the health sector, he said there was tremendous scope for investment in the manufacturing of medical devices. He said India's health sector which is globally extremely cost competitive, offers immense scope for health tourism. He added that Indian nurses, present in large numbers in the Gulf, are a testament to our well-trained manpower.

He called for taking the economic relationship beyond export and import, to technology transfers and joint investment.

He assured Saudi investors that retrospective taxation was a thing of the past, and his Government believes in a predictable long term taxation regime. He mentioned petroleum, renewable energy, infrastructure, and defence manufacturing, as possible areas for Saudi investment. He said Saudi investment in fertilizers, warehousing, cold chain facilities and agriculture, would be a win-win partnership, as it would ensure good quality food products for Saudi Arabia.

He said India and Saudi Arabia should look at working together in the field of cyber-security.

Login or Register to add your comment
Explore More
ଶ୍ରୀରାମ ଜନ୍ମଭୂମି ମନ୍ଦିର ଧ୍ଵଜାରୋହଣ ସମାରୋହରେ ପ୍ରଧାନମନ୍ତ୍ରୀଙ୍କ ଅଭିଭାଷଣ

ଲୋକପ୍ରିୟ ଅଭିଭାଷଣ

ଶ୍ରୀରାମ ଜନ୍ମଭୂମି ମନ୍ଦିର ଧ୍ଵଜାରୋହଣ ସମାରୋହରେ ପ୍ରଧାନମନ୍ତ୍ରୀଙ୍କ ଅଭିଭାଷଣ
View All
Engineering goods exports up 10.4% in January,2026, crosses $100 billion mark in April-January Period of FY26

Media Coverage

Engineering goods exports up 10.4% in January,2026, crosses $100 billion mark in April-January Period of FY26
View All
NM on the go

Nm on the go

Always be the first to hear from the PM. Get the App Now!
Download App
...
PM to visit Gujarat on 28th February
February 27, 2026
PM to inaugurate Micron Technology’s Semiconductor Assembly, Test and Packaging (ATMP) facility in Sanand
Inauguration marks a historic milestone in India’s semiconductor manufacturing journey
Commercial production and shipment of first Made-in-India semiconductor memory modules to commence
Facility to feature one of the world’s largest raised-floor cleanrooms

Prime Minister Shri Narendra Modi will visit Gujarat on 28 February 2026. At around 3:45 PM, Prime Minister will inaugurate the Semiconductor Assembly, Test and Packaging (ATMP) facility of Micron Semiconductor Technology India Private Limited in Sanand. He will also address the gathering on the occasion.

The inauguration marks a significant milestone in India’s semiconductor manufacturing journey, with the commencement of commercial production and shipment of the first made-in-India semiconductor memory modules from the Sanand ATMP facility. This development represents a major step forward in strengthening India’s position in the global semiconductor value chain.

The project, which had its ground-breaking ceremony in September 2023, was the first proposal approved under the India Semiconductor Mission (ISM). With a total outlay of more than ₹22,500 crore, construction commenced soon after approval, reflecting the Government’s commitment to fast-tracking strategic semiconductor investments in the country.

The Sanand facility, once fully ramped up, will feature approximately 500,000 square feet of cleanroom space, making it one of the world’s largest raised-floor cleanrooms. The facility is designed to serve customers worldwide and address the growing global demand for memory and storage solutions, driven by rapid advancements in Artificial Intelligence and high-performance computing.

The Sanand ATMP facility will convert advanced Dynamic Random Access Memory (DRAM) and NAND semiconductor wafers from Micron’s global manufacturing network into finished memory and storage products, catering to customers across global markets.

The establishment and operationalisation of this facility underscores India’s emergence as a trusted and competitive destination for semiconductor manufacturing and aligns with Prime Minister’s vision of building a resilient and self-reliant technology ecosystem in the country.