Conductive thick-film paste is useful in forming front-side contact of a solar cell or other semiconductor devices. Unlike conventional conductive frit pastes, a conductive paste according to the present invention does not include frit particles, and contains silver particles, nano-sized inorganic additives and an organic solvent. The conductive paste according to the present invention provides better etching ability through the anti-reflecting coating on the semiconductor substrate than conventional conductive frit pastes.