PM Modi listening to industry is encouraging: Intel

Intel's Renne James says the fact that prime minister Modi is listening to the industry is very encouraging and she is hopeful about India

Global CEOs have been lining up at Prime Minister Narendra Modi's door. The latest being Intel's Renne James and she is upbeat on the India story and the prime minister's Digital India drive.

Below is the verbatim transcript of Renee James' interview with CNBC-TV18's Shereen Bhan

Q: You met Prime Minister Modi. Post the meet, what is your view on India?

A: I feel very hopeful about India. His initiatives and his personal engagement on his vision for the future of digital India is quite impressive. He is a technology user himself. He shared with me about how he uses technology in his own personal cloud and I feel that because he himself knows how to use the technology he is very well equipped to have a real good push on what is happening. So we are very encouraged and he is listening to the industry which is also very encouraging. So it is very good.

Q: But what is all that going to translate into in terms of investments in India for Intel because the R&D story is well established. So what about manufacturing in India? The government has unveiled an electronic manufacturing policy, the minister says that they have managed to get investments worth Rs 19,000 crore. Is there any possibility of manufacturing in India?

A: There is always a possibility of anything.

Q: The probability of it happening sooner rather than later?

A: The probability in a short term is probably close to zero because we are now in a situation in the semiconductor industry where we have all built our capacity for the near term needs and any of us three largest manufacturers in semiconductors right now probably are most likely to add capacity on to our existing plants. If things go as Prime Minister suggested then India could be a possibility, but today, no, we just aren't building any new capacities.

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