Prime Minister Narendra Modi underscored India’s strategic importance in the global semiconductor landscape during his address at the inauguration of Semicon India 2024 on Wednesday.
The three-day event, held at the India Expo Mart in Greater Noida, Uttar Pradesh, will highlight India’s semiconductor strategy and aspirations to become a global hub for semiconductor manufacturing.
During his speech, PM Modi emphasized that the present moment is ideal for investing in India. He highlighted the country’s comprehensive approach to creating an integrated ecosystem for the semiconductor industry.
Speaking at the inauguration of Semicon India 2024, PM Modi said, “We are preparing a workforce of 85,000 technicians, engineers, and R&D experts. India’s focus is on making its students and professionals semiconductor industry-ready.”
“India will do whatever it takes to become a semiconductor powerhouse,” he said. The country is also targeting a $500 billion size for the electronic sector by the end of the decade from the current $150 billion.
The focus on developing a skilled workforce is crucial in meeting the industry’s demands and supporting the growth of India’s semiconductor capabilities.
PM Modi also noted that semiconductor chips are more than just a technological component; they are essential for realizing the aspirations of millions. These chips form the backbone of India’s Digital Public Infrastructure (DPI), which proved resilient during the COVID-19 pandemic when many global banking systems struggled.
PM Modi reiterated India’s determination to become a semiconductor powerhouse, with ambitious targets for the electronic sector. The country aims to expand the size of its electronics sector from the current $150 billion to $500 billion by the end of the decade. This goal underscores India’s strategic push to enhance its role in the global semiconductor market.
The prime minister outlined India’s unique proposition of combining a reform-oriented government with a burgeoning manufacturing base and a tech-savvy market.
“Our dream is to have Indian-made chip in every device in the world,” says PM Modi
He also highlighted significant investments, including a commitment of over ₹1.5 lakh crore towards semiconductor manufacturing projects, and expressed the vision of having Indian-made chips in every device worldwide.
Union Electronics and IT Minister Ashwini Vaishnaw also addressed the gathering, reflecting on India’s historical attempts to establish a semiconductor industry.
Vaishnaw noted that the semiconductor sector is foundational, with applications spanning medical instruments, mobile phones, laptops, and other essential technologies. He acknowledged the efforts made over the past 60 years and credited PM Modi’s leadership with finally achieving success in establishing the industry within India.
Uttar Pradesh Chief Minister Yogi Adityanath highlighted the state’s significant contributions to the semiconductor and electronics sectors. “Due to the efforts taken by the Uttar Pradesh government in the past few years, about 50 percent of the total mobile phone components are produced in the state. UP has emerged as an exporter of consumer electronics. Samsung India has also started its display manufacturing plant in Noida itself. Today, the state has also been established as a hub for data centers,” he said.
Semicon India 2024 is set to feature over 250 exhibitors and 150 speakers, providing a platform for global leaders and experts to collaborate and discuss the semiconductor industry’s future. The event will be pivotal in showcasing India’s semiconductor ambitions and fostering international partnerships.
As India positions itself as a critical player in the semiconductor sector, Semicon India 2024 is a significant milestone in the country’s journey towards achieving global semiconductor leadership.
