PM Modi highlights India's semiconductor ambitions at Semicon India 2024, aims for global leadership

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Prime Minister Narendra Modi today inaugurated the three-day Semicon India 2024 in Greater Noida, Uttar Pradesh. He highlighted the critical role of strong supply chains in maintaining economic stability and reaffirmed the government’s commitment to boosting investments in the semiconductor industry.

In his address at the summit, Prime Minister Modi highlighted the central role of semiconductors in a wide range of electronic devices, from electric vehicles and artificial intelligence to smartphones. He reiterated the country’s ambitious goal, saying, “It is our dream to have a made-in-India chip in every device in the world.” The prime minister also highlighted India’s efforts to strengthen supply chains in various sectors, revealing that Rs 1.5 lakh crore has already been invested in semiconductor manufacturing.

Semicon India 2024, which will take place from September 11-13 and will be themed ‘Shaping the Future of Semiconductors’, will showcase India’s vision to become a global semiconductor manufacturing hub. PM Modi He highlighted India's growing role in solving domestic as well as global semiconductor challenges, with emphasis on the country's reform-oriented government, booming manufacturing sector and technology-aware market.

He elaborated on the India Semiconductor Mission, which provides 50 per cent financial support to companies setting up semiconductor manufacturing facilities. The mission also covers semiconductor fabs, display fabs, packaging and critical supply chain components. Our dream is that every device in the world has a chip made in India, he said.

Currently, India's electronics sector is valued at over $150 billion, with a target of growing it to $500 billion and creating 6 million jobs by 2030. Modi noted that this growth would directly benefit the semiconductor sector, with a target of achieving 100% electronics manufacturing in the country.

The Prime Minister also stressed the importance of supply chain resilience, especially after the disruptions seen during the COVID-19 pandemic. India is working to strengthen supply chains in many sectors, including semiconductors, to prevent future shocks.

Modi highlighted that 20% of the world's semiconductor design is done in India and shared the government's efforts to build a workforce of 85,000 technicians, engineers and R&D experts in the sector. He coined the term silicon diplomacy, indicating the shift from oil diplomacy to today's technology-driven world. He also highlighted that technology, when combined with democratic values, amplifies its positive power.

Key takeaways from PM Modi's speech:

Increased investment in semiconductor manufacturing: India has already secured commitments worth Rs 1.5 lakh crore semiconductor manufacturing investments, positioning itself as a global hub.

Focus on supply chain resilience: Modi stressed the need to build resilient supply chains, especially in semiconductors, to avoid global disruptions like those seen during the pandemic.

Vision of a “Made in India chip in every device”: The Prime Minister expressed an ambitious goal that Indian-made chips will be used in electronic devices across the world, underlining India's aspirations in the semiconductor sector.

Also read | India's Semiconductor Mission: To Create a Global Electronics Manufacturing Hub

India's 3D Power for Semiconductors: Modi stressed that India's reform-oriented government, strong industrial base and technology-savvy market were key drivers of the country's semiconductor ambitions.

India, a powerhouse of semiconductors: Modi has positioned India as an attractive destination for semiconductor investments, assuring global investors that India is committed to doing whatever it takes to lead in the sector.

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