LUCKNOW: Prime Minister Narendra Modi on Wednesday said India is poised to play a significant role in driving the global semiconductor industry forward. He was speaking after inaugurating SEMICON India — 2024, a three-day exhibition, at the India Expo Mart in Greater Noida, Uttar Pradesh.
The prime minister said his government will do everything to make India a semiconductor powerhouse, adding that it is a dream to have an Indian-made chip in every device in the world.
He said India is building a robust semiconductor workforce comprising 85,000 technicians, engineers, and research and development experts. The country, he added, must prepare its students and professionals to contribute to the growth of the sector.
India has attracted investments exceeding Rs 1.5 lakh crore for its semiconductor sector in a short span of time, Modi said adding that the country possessed a “three-dimensional power” — a reformist government, a rapidly expanding manufacturing base and a large, aspirational market appreciating and embracing technology — that can propel the growth of the chip industry.
Drawing an analogy between the semiconductor industry and a diode, where energy flows in only one direction, Modi said India’s semiconductor sector was unique, featuring special “diodes” where energy flew in both directions. He explained that while industries invested and generated value, the government reciprocated by offering stable policies and promoting the ‘Ease of Doing Business.’
Modi said the goal is to have India make not just the chips but the finished products too. The prime minister stressed the need to have supply chains that are resilient from shock events like Covid-19.
“Resilience of the supply chain is very important,” he said. “Whether it is mobile manufacturing, electronics, or semiconductors, our focus is clear — we want to build a world that doesn’t stop or pause in times of crisis but keeps moving forward,” the prime minister said, adding that, “When the chips are down, you can bet on India.”
Modi said India is one of the largest consumers of semiconductors, which enabled the creation of world-class digital public infrastructure. This small chip, played a crucial role in ensuring last-mile delivery across the country, he said.
Semicon 2.0 soon
The second phase of the Centre’s chip policy, Semicon 2.0 is expected to be in place in 3-4 months, Union Information and Broadcasting minister Ashwini Vaishnaw said
6 million jobs
With India’s electronics sector now valued at over $150 billion, the Prime Minister outlined a goal to grow the country’s electronics sector to $500 billion and create as many as 6 million jobs by the end of this decade