At the inauguration of SEMICON India 2024, Prime Minister Narendra Modi unveiled a comprehensive plan to bolster semiconductor manufacturing in India, with substantial government backing and significant investments. The event, held at the India Expo Centre in Greater Noida, highlighted India’s strategic push to become a major player in the global semiconductor industry.
During his address, PM Modi emphasized that the Indian government is committed to supporting semiconductor manufacturing with 50% financial backing. He announced that this initiative has already attracted investments totaling ₹1.5 trillion, reflecting the robust interest and confidence in India’s semiconductor sector.
“Our goal is to build a 360-degree semiconductor ecosystem in India,” Modi stated. “With 50% government support, we are driving forward semiconductor manufacturing and attracting substantial investments. This initiative is set to revolutionize our technological landscape and ensure that Indian-made chips are a part of every global device.”
The Prime Minister also spotlighted the Semicon India Program, a pivotal initiative designed to provide comprehensive support for semiconductor fabrication (fabs) and packaging. This program is central to the government’s vision of establishing a self-reliant semiconductor industry capable of meeting both domestic and international demands.
Modi’s speech underscored the ambition to integrate Indian-made semiconductor components into global devices, reinforcing India’s position in the global technology supply chain. By fostering a robust semiconductor ecosystem, the government aims to enhance technological innovation and secure a competitive edge in the international market.
The SEMICON India 2024 conference brings together leaders from the semiconductor industry, policymakers, and technology experts to explore advancements and collaboration opportunities. PM Modi’s announcement marks a significant milestone in India’s efforts to transform its semiconductor sector, aligning with broader objectives of technological self-sufficiency and economic growth.
As India continues to invest heavily in its semiconductor industry, the emphasis on building a comprehensive ecosystem and securing global partnerships is expected to drive substantial progress and position the country as a key player in the future of global technology.
