Prime Minister Narendra Modi, at the India Expo Mart, Greater Noida, Uttar Pradesh, officially inaugurated the SEMICON India 2024, on Wednesday. Running from 11th - 13th September, it is a three-day conference being designed to display India’s ambitious semiconductor blueprint and policy, aiming to position the country as a global hub supporting semiconductor design and assembling.
While addressing the opening ceremony, Prime Minister Modi showed gratitude to the members associated with SEMI and underscored India’s noteworthiness as an eighth country where the global semiconductor industry is being organized. Also, that “it is the right time to be in India. You are at the right place at the right time.” “The chips in 21st century India are never down.”
Prime Minister exemplified the semiconductor industry with a “diode” for one-way energy flow, emphasizing that India’s semiconductor sector operates with a “special diode” that allows energy to flow in both directions. This analogy highlighted the mutual relationship between industry investments and government support, driven by stable policies and enhanced ease of doing business.
Watch PM Narendra Modi Inaugurates SEMICON India 2024
While highlighting India’s increasing participation in global semiconductor design, PM Modi said that India contributes 20% of total designers in the sector. India is preparing a semiconductor workforce of 85,000 technicians, engineers, and R&D experts. He also mentioned the recently formulated Anusandhan National Research, and the ₹ 1 trillion fund dedicated to special research, both established to give a new direction to India’s research ecosystem and will also drive innovation in the semiconductor sector.
Meanwhile, Modi also talked about India’s 3D power – first is the reformist government, second is the growing manufacturing base, and third is the aspirational market of India that understands technology trends. He emphasized the crucial role of semiconductors in meeting the aspirations of millions of Indians and fuelling the nation’s strong digital public infrastructure.
Mentioning the initiatives by the Indian government, he said that to establish the semiconductor facility in India, the Indian government is giving 50% support with the state governments doing their parts. “With the help of India’s supportive policies, an investment worth more than ₹ 1.5 trillion has been made in India in this sector in a very short time.” Along with several projects under the pipeline.
He also spoke about the “Semicon India Program, under which financial support is extended for Front End Fab, Display Fabs, Semiconductor Packaging, Semiconductor Compounds, Sensors, and Display Manufacturing.” PM Modi also introduced the Critical Mineral Mission, aimed at enhancing domestic production and securing overseas acquisition of key minerals vital to the semiconductor industry.
PM Modi also underscored the country’s increasing participation in global semiconductor initiatives and announced that India has been elected as the Vice Chair of the Supply Chain Council of the Indo-Pacific Economic Framework. Also, India is a big partner of the Code Semiconductor Supply Chain Initiative and recently India has partnered with many countries including Japan and Singapore.
Alongside, he highlighted the essential reforms taken by the government to make mobile handsets and data affordable. Today, India is the second-highest producer and exporter of mobile phones in the world. “India has become the second largest market for 5G handsets.”
“Today India’s Electronics Sector has crossed the mark of $150 billion.” Setting up the ambitious target, he said “By the end of this decade, we will reach our electronics sector to $500 billion. This will create about 6 million or 60 lakhs job opportunities for the youth.” While aiming at accomplishing 100% of the electronic manufacturing work done in India.
Highlighting India’s part in building strong supply chains, Modi said, “India’s semiconductor ecosystem is a solution not just for India’s challenges but also for global challenges.” Also, PM Modi stressed the need to combine democratic values with technology for greater gains, while repeating India’s commitment to creating a world that keeps functioning even in time of crisis.
The event saw the participation of prominent figures, including Uttar Pradesh Chief Minister Yogi Adityanath, Union Minister for Electronics and Information Technology Ashwini Vaishnaw, along with leaders from global semiconductor companies.
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