Prime Minister Narendra Modi stated on Tuesday that India has the capacity to develop into a reliable partner in a global semiconductor supply chain and that the government will adhere to a stable and predictable set of policies.
As the host of the Semiconductor Executives’ Roundtable at his residence in the nation’s capital on the eve of the three-day “Semicon India 2024” event, Prime Minister Modi stated that semiconductors are the cornerstone of the Digital Age and that the time will come when they will support even our most basic needs.
The CEOs of several significant chip companies were present when PM Modi stated, “India’s focus is to develop products which are globally competitive.” He also mentioned how India is a great market for investing in high-tech infrastructure and how “the excitement shared by the leaders of the semiconductor sector today will motivate the government to work harder for this sector.”
Chief executive officers and representatives from a number of companies, including Tower, Synopsys, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power, and Kaynes Technology, were present at the meeting.
The Prime Minister highlighted that democracy and technology working together may guarantee human wellbeing and that India is pursuing this course while acknowledging its global semiconductor industry responsibilities.
There are now five proposals for the fabrication of semiconductors, with a combined investment close to Rs 1.52 lakh crore.
India has the potential to develop into a reliable partner in a diverse semiconductor supply chain, PM Modi emphasised. Focussing on the ‘Make in India’ and ‘Make for the World’ campaigns, the prime minister declared that the government will persist in providing industry support at every stage.
The CEOs praised India’s dedication to the expansion of the semiconductor industry, noting that the gathering of leaders from the whole industry under one roof today is a first. They claimed that India is beginning to become the centre of gravity for the semiconductor business and that this is because the nation now has a climate that is conducive to the sector, placing India on the map of the world semiconductor industry.
The “Semicon India 2024” event, scheduled for September 11–13 in Greater Noida, is expected to attract around 250 firms from 24 nations, demonstrating the nation’s increasing influence in this vital industry.
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