PM Modi inaugurated SEMICON India 2024 at India Expo Mart in Greater Noida, Uttar Pradesh today. PM Modi took a walkthrough of the exhibition showcased on the occasion. The three-day conference from 11 to 13th September will showcase India’s semiconductor strategy and policy which envisions making India a global hub for semiconductors.
Addressing the gathering, the Prime Minister expressed gratitude to all members of SEMI saying that India is the eighth country in the world to organize an event related to the global semiconductor industry. “This is the right time to be in India. You are at the right place at the right time”, PM Modi emphasized, “In 21st-century India, the chips are never down.” He further added that the India of today assures the world, “When the chips are down, you can bet on India.”
Highlighting the connection between the semiconductor industry and a diode where energy traverses only in one direction, the Prime Minister said that India’s semiconductor industry is equipped with special diodes where energy flows in both directions. He explained that while industries invest and create value, the government on the other hand provides stable policies and Ease of Doing Business. The Prime Minister said that India provides an integrated ecosystem drawing parallels with an integrated circuit used in the semiconductor industry and highlighted the much-discussed talent of India’s designers. Informing that India’s contribution to the world of designing is 20 percent and is growing continuously, PM Modi said that India is creating a semiconductor workforce of 85,000 technicians, engineers and R&D experts. “India is focused on making its students and professionals industry ready”, the Prime Minister remarked, recalling the first meeting of the Anusandhan National Research Foundation which aims to give new direction and energy to India’s research ecosystem. He also mentioned a special research fund of Rs 1 trillion.
Prime Minister Modi underlined that such initiatives are bound to increase the scope of semiconductors and innovations in the science sector and also highlighted the government’s emphasis on semiconductor infrastructure. Explaining that India holds a three-dimensional power namely the present reformist government, the country’s growing manufacturing base and the nation’s aspirational market which is aware of the technological trends, the Prime Minister said that this base of 3D power is difficult to find elsewhere.
Highlighting the uniqueness of India’s aspirational and tech-oriented society, the Prime Minister said that the meaning of chips in India is not just limited to technology but is a medium to fulfill the aspirations of crores of citizens. Underlining that India is a huge consumer of such chips, PM Modi emphasized that the world’s finest digital public infrastructure was built upon it. “This small chip is doing big things to ensure last-mile delivery in India”, PM Modi said. Recalling the coronavirus crisis when the strongest banking systems of the world collapsed, PM Modi said that banks in India were running continuously. “Be it India’s UPI, Rupay Card, Digi Locker or Digi Yatra, multiple digital platforms have become a part of the everyday life of the people of India”, he noted. To become self-reliant, the Prime Minister said that India is increasing manufacturing in every sector, making green transition on a large scale and the demand for data centers is also increasing. “India is set to play a big role in driving the global semiconductor industry”, he added.
The Prime Minister said there is an old saying – ‘Let the chips fall where they may’, that means whatever is going on…let it go on like that but today’s young and aspirational India does not follow this sentiment, he added, saying that “India’s new mantra is increasing the number of chips produced in India”. Pointing out the numerous steps taken by the government to promote semiconductor manufacturing, PM Modi highlighted that the government is offering 50% financial support for setting up semiconductor manufacturing facilities, with state governments also playing a key role in this effort. Because of these policies, he said, India has attracted investments worth more than Rs 1.5 trillion in a very short time and many more projects are in the pipeline. PM Modi also shed light on the comprehensive approach of the Semicon India Program which provides financial support for front-end fabs, display fabs, semiconductor packaging and other critical components of the supply chain. “Our dream is that every device in the world will have an Indian-made chip,” he recalled declaring from the Red Fort this year. He reiterated India’s ambition to do whatever it takes to become a semiconductor powerhouse.
