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India best positioned to host entire semiconductor ecosystem: PM Modi at SEMICON

Sep 11, 2024 04:00 PM IST

Prime Minister said the Covid pandemic showed the importance of the supply chain and underscored the need to act to ward off any disruption

Prime Minister Narendra Modi on Wednesday said that India’s semiconductor ecosystem is a solution not just for the country’s challenges but also for global challenges.

Prime Minister Narendra Modi during the inauguration of SEMICON India 2024, in Greater Noida. (ANI photo)
Prime Minister Narendra Modi during the inauguration of SEMICON India 2024, in Greater Noida. (ANI photo)

Speaking at the inauguration of the SEMICON India conference in Greater Noida, PM Modi said India’s reform focussed government, its growing manufacturing base, and its aspirational market that is aware of technological trends are the three dimensions unique to India that make the country best suited to enable an ecosystem for semiconductor manufacturing.

PM Modi also spoke about India’s semiconductor mission under which the government offers 50% financial support to companies to set up semiconductor manufacturing facilities.

PM Modi explained that India’s semiconductor policy provides financial support for front-end fabs, display fabs, semiconductor packaging and other critical components of the supply chain.

“Our dream is that every device in the world will have an Indian-made chip,” he said.

India’s electronics sector is currently valued at over $150 billion.

Also Read:We want to make India a global hub for Green Hydrogen production: PM Modi

The prime minister said that India’s goal is to increase the value of electronics sector to $500 billion and create 6 million jobs in the sector by 2030. This growth, he said, would directly benefit India’s semiconductor sector.

“Our goal is that 100% of electronic manufacturing should happen in India. India will make semiconductor chips and the finished product too”, he said.

PM Modi said the Covid pandemic showed the importance of the supply chain and underscored the need to act to ward off any disruption.

“Resilience of the supply chain is very important,” he said.

“India is working to create the same in different sectors of the economy. The world witnessed supply shocks during Covid-19, as stringent measures to control the spread of pandemic in China affected the industries and sectors dependent on imports from that country. One of the sectors impacted was chips that form a critical part of every electronic device”, he said.

Modi said that 20% of global designing occurs in India and India was working to create a semiconductor workforce of 85,000 technicians, engineers and R&D experts.

PM Modi also remarked that given the importance of chips to this digital world, “oil diplomacy” has now paved way for “silicone diplomacy”.

Speaking about the relationship between technology and democratic values, he said that the positive power of technology is amplified when it is combined with democratic values.

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