New Delhi: Prime Minister Narendra Modi emphasized India’s potential to become a pivotal player in the global semiconductor supply chain, outlining a commitment to a predictable and stable policy environment. This statement came during the Semiconductor Executives’ Roundtable held at his residence, ahead of the ‘Semicon India 2024’ event.
PM Modi described semiconductors as foundational to the Digital Age, noting that they will increasingly underpin even the most basic necessities of life. He assured the attending CEOs from leading chip companies that India is focused on developing globally competitive products and creating an attractive market for high-tech investment.
The roundtable was attended by prominent figures from organizations such as SEMI, Micron, NXP, IMEC, Renesas, and several others, representing a broad cross-section of the semiconductor industry. PM Modi highlighted India’s readiness to serve as a reliable partner in the semiconductor supply chain, reinforcing the government’s support for the sector through initiatives like ‘Make In India’ and ‘Make for the World.’
Currently, there are five semiconductor manufacturing proposals in India, with a combined investment of approximately Rs 1.52 lakh crore. The Prime Minister underscored India’s democratic values and technological advancements as crucial elements for global welfare and responsibility in the semiconductor field.
CEOs present at the roundtable praised India’s commitment to the semiconductor sector, acknowledging the unprecedented gathering of industry leaders in one location. They noted that India is emerging as a key player in the global semiconductor arena, highlighting the country’s growing significance in the industry.
The ‘Semicon India 2024’ event, scheduled for September 11-13 in Greater Noida, will see participation from over 250 companies across 24 countries, further demonstrating India’s expanding role in this vital sector.
