GREATER NOIDA: Prime Minister Narendra Modi on Wednesday set an ambitious target of more than trebling electronics manufacturing in India to $500 billion in six years and suggested the entire manufacturing will be in the country, arguing India will not only make their semiconductor chips but also finished products.
“In the 21st-century Bharat, the chips are never down! Today’s Bharat assures the world – When the chips are down, you can bet on India!” PM told industry leaders at SEMICON India 2024 as he sought to position India as a manufacturing base and investment destination.He said India’s ambition is to “do whatever it takes to become a semiconductor powerhouse” of the world.
Modi said India’s time to lead the ‘Silicon Diplomacy‘ has arrived, as he flagged the over Rs 1.5 lakh crore investments in semiconductor manufacturing and design that will see the country emerge as a trusted partner for supplying the coveted chips across the world. The comments came amid wariness in the business community in China.
Modi said the positive power of technology is amplified when it is combined with democratic values, and reaffirmed India’s focus on creating a world that remains functional even in times of crisis. “India’s semiconductor ecosystem is a solution not just for India’s challenges but also for global challenges… Our dream is that every device in the world will have an Indian-made chip,” he said.
He highlighted India has been chosen as vice chair of Indo-Pacific Economic Framework’s Supply Chain Council and is a key partner in the QUAD Semiconductor Supply Chain Initiative. “Additionally, agreements have been signed with countries like Japan and Singapore, and India is deepening its cooperation with the US in the semiconductor sector.”
He said govt has made special efforts to ensure it provides not just financial incentives to companies investing in semiconductors, but also gives them ease of doing business.
The PM also said semiconductor chips are not just limited to technology in India but have also become instrumental in fulfilling the aspirations of citizens through initiatives such as digital public infrastructure (DPI).
“In the 21st-century Bharat, the chips are never down! Today’s Bharat assures the world – When the chips are down, you can bet on India!” PM told industry leaders at SEMICON India 2024 as he sought to position India as a manufacturing base and investment destination.He said India’s ambition is to “do whatever it takes to become a semiconductor powerhouse” of the world.
Modi said India’s time to lead the ‘Silicon Diplomacy‘ has arrived, as he flagged the over Rs 1.5 lakh crore investments in semiconductor manufacturing and design that will see the country emerge as a trusted partner for supplying the coveted chips across the world. The comments came amid wariness in the business community in China.
Modi said the positive power of technology is amplified when it is combined with democratic values, and reaffirmed India’s focus on creating a world that remains functional even in times of crisis. “India’s semiconductor ecosystem is a solution not just for India’s challenges but also for global challenges… Our dream is that every device in the world will have an Indian-made chip,” he said.
He highlighted India has been chosen as vice chair of Indo-Pacific Economic Framework’s Supply Chain Council and is a key partner in the QUAD Semiconductor Supply Chain Initiative. “Additionally, agreements have been signed with countries like Japan and Singapore, and India is deepening its cooperation with the US in the semiconductor sector.”
He said govt has made special efforts to ensure it provides not just financial incentives to companies investing in semiconductors, but also gives them ease of doing business.
The PM also said semiconductor chips are not just limited to technology in India but have also become instrumental in fulfilling the aspirations of citizens through initiatives such as digital public infrastructure (DPI).