Prime Minister Narendra Modi addressed the SEMICON India 2024 event, emphasizing that this is the perfect time for global semiconductor companies to invest in India. He pointed out that India is the eighth country globally to host such a prestigious semiconductor event, reflecting the nation’s growing significance in the global electronics and semiconductor sector.
Key Highlights from PM Modi’s Speech:
1. India’s Growing Role in Design and Manufacturing:
India already contributes 20% of the world’s talent in semiconductor design, and this talent pool continues to grow. PM Modi highlighted that India is currently training 85,000 technicians, engineers, and R&D experts to strengthen the semiconductor workforce.
2. Significant Financial Commitments:
The Indian government has set aside over ₹1 lakh crore ($12 billion) to boost semiconductor manufacturing in the country. PM Modi stated that these investments, along with policy reforms, will help foster innovation and attract global players.
3. India’s Comprehensive Ecosystem:
India offers a robust ecosystem for semiconductor manufacturers with a focus on infrastructure, policy stability, and ease of doing business. The government has implemented reforms aimed at making India a hub for semiconductor innovation.
4. 3D Power of India:
PM Modi introduced the concept of “3D Power” that India offers to the global semiconductor industry:
– First D: A Reformist Government – India’s government is committed to creating policies that support semiconductor growth and innovation.
– Second D: Expanding Manufacturing Base – India is becoming a global manufacturing hub, with increased production capacity and favorable conditions for semiconductor companies.
– Third D: A Market Full of Aspirations– With a large and growing population, India offers an enormous market for semiconductor products, including consumer electronics, automotive, and data centers.
5. Commitment to Green Transition:
India is also focused on becoming self-reliant in manufacturing, while undertaking large-scale green transitions. PM Modi noted that the demand for data centers is continuously rising, indicating the growth of digital infrastructure in the country.
6. India’s Vision for the Future:
PM Modi expressed confidence in India’s capability to not only meet domestic semiconductor demand but also supply to the world. He envisions a future where chips made in India are present in every electronic device across the globe.
Global Interest in India’s Semiconductor Sector
During the event, several major global semiconductor companies participated, showcasing their interest in India’s growing semiconductor industry. Some of the leading companies that had their top officials in attendance included:
SEMI, Micron, NXP, PSMC, IMEC, Renesas, TEPL, Tokyo Electron, Tower, Synopsys, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power, and Kaynes Technology.
These companies have expressed interest in investing and partnering with India to boost semiconductor manufacturing. Their participation signals strong global confidence in India’s semiconductor ambitions.
India’s Ambitious Goals
PM Modi also announced India’s ambitious goal to grow its electronics sector to $500 billion by the end of the decade, up from the current $150 billion. This growth is expected to be fueled by the semiconductor industry, which forms the backbone of all electronics. The Prime Minister emphasized that India is ready to play a key role in driving the global semiconductor industry forward.
“When the Chips Are Down, You Can Bet on India”
In his address, PM Modi assured the global semiconductor industry that India is a reliable partner, saying, “When the chips are down, you can bet on India.” He explained that India’s reforms and growing infrastructure make it an ideal place for semiconductor investments, especially during uncertain global times.
Semiconductor: The Foundation of the Digital Era
On the eve of the SEMICON India event, PM Modi described semiconductors as the foundation of the digital era. He highlighted that India is equipped with the capabilities to become a global leader in this sector, not just to fulfill its own needs but also to supply the world with semiconductors.
He also stressed the importance of cooperation between democracy and technology, stating that both should work hand-in-hand for the betterment of humanity. This, he said, positions India uniquely to lead the semiconductor sector, aligning technological advancement with democratic values.
Conclusion
India is positioning itself as a key player in the global semiconductor industry, with a robust ecosystem, skilled workforce, and favorable policies. As the country aims to grow its electronics sector to $500 billion, the focus on semiconductor manufacturing is more crucial than ever. Global semiconductor companies are already showing interest in investing in India, making it a significant destination for future semiconductor innovations.
SEMICON India 2024 marks a pivotal moment for India’s semiconductor ambitions, signaling the country’s readiness to become a major force in the global electronics and semiconductor market.
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