New Delhi, Sep 11 :
Prime Minister Narendra Modi said on Wednesday that India is set to play a big role in driving the global semiconductor industry and reiterated India’s ambition to become a semiconductor powerhouse.
Inaugurating SEMICON India 2024 at India Expo Mart in Greater Noida, Uttar Pradesh, Prime Minister Modi said, “India is the eighth country in the world to organize an event related to the global semiconductor industry.”
“This is the right time to be in India. You are at the right place at the right time”, PM Modi told industry representatives.
PM Modi said, “In 21st-century India, the chips are never down. India of today assures the world, ‘When the chips are down, you can bet on India’.”
Informing that India’s contribution to the world of designing is 20 per cent and is growing continuously, PM Modi said, ” India is creating a semiconductor workforce of 85,000 technicians, engineers and R&D experts. India is focused on making its students and professionals industry-ready.”
PM Modi underlined that such initiatives are bound to increase the scope of semiconductors and innovations in the science sector and also highlighted the government’s emphasis on the semiconductor infrastructure.
Because of these policies, he said, “India has attracted investments worth more than Rs 1.5 trillion in a very short time and many more projects are in the pipeline.”
Pointing to the numerous steps taken by the government to promote semiconductor manufacturing, Modi highlighted that the government is offering 50 eper cent financial support for setting up semiconductor manufacturing facilities, with state governments also playing a key role in this effort.
With India’s electronics sector now valued at over $150 billion, the Prime Minister outlined a larger goal to expand the country’s
India set to
electronics sector to $500 billion and create 6 million jobs by the end of this decade. He said, “This growth will directly benefit India’s semiconductor sector. Our goal is that 100pr cent of electronic manufacturing should happen in India. India will make semiconductor chips and the finished product too.” The three-day conference from September 11 to 13 will showcase India’s semiconductor strategy and policy which envisions making India a global hub for semiconductors.
