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Prime Minister Narendra Modi today inaugurated the three-day Semicon India 2024 in Greater Noida, Uttar Pradesh. He emphasised the critical role of robust supply chains in maintaining economic stability and reaffirmed the government’s commitment to boosting investment in the semiconductor industry.

Speaking at the summit, PM Modi highlighted the pivotal role of semiconductors in a wide range of electronic devices, from electric vehicles and artificial intelligence to smartphones. He reiterated the nation’s ambitious goal, stating, “It’s our dream to have an India-made chip in every device in the world.” The Prime Minister also noted India’s efforts to strengthen supply chains across various sectors, revealing that ₹1.5 lakh crore has already been invested in semiconductor manufacturing.

The Semicon India 2024, running from September 11 to 13 with the theme ‘Shaping the Semiconductor Future’, showcases India’s vision to become a global hub for semiconductor manufacturing. PM Modi underscored India’s growing role in addressing not only national but also global semiconductor challenges, emphasizing the country’s reform-oriented government, burgeoning manufacturing sector, and technologically aware market.

He elaborated on India’s Semiconductor Mission, which provides 50% financial support to companies establishing semiconductor manufacturing facilities. The mission also covers front-end fabs, display fabs, packaging, and critical supply chain components. “Our dream is that every device in the world will have an Indian-made chip,” he stated.

Currently, India’s electronics sector is valued at over $150 billion, with the goal of increasing it to $500 billion and creating 6 million jobs by 2030. Modi noted that this growth would directly benefit the semiconductor sector, with the aim of achieving 100% electronic manufacturing within the country.

The Prime Minister also emphasized the importance of supply chain resilience, especially after the disruptions witnessed during the COVID-19 pandemic. India is working to strengthen supply chains across multiple sectors, including semiconductors, to prevent future shocks.

Modi highlighted that 20% of global semiconductor design happens in India and shared the government’s efforts to build a workforce of 85,000 technicians, engineers, and R&D experts in the sector. He coined the term “silicon diplomacy,” indicating the shift from “oil diplomacy” in today’s tech-driven world. He also emphasized that technology, when combined with democratic values, amplifies its positive power.

Key Takeaways from PM Modi’s Speech:

Investment Surge in Semiconductor Manufacturing: India has already secured commitments worth ₹1.5 lakh crore in semiconductor manufacturing investments, positioning itself as a global hub.

Focus on Supply Chain Resilience: Modi stressed the need to build resilient supply chains, particularly in semiconductors, to prevent global disruptions like those seen during the pandemic.

Vision for ‘Indian-made Chip in Every Device’: The Prime Minister expressed an ambitious goal for Indian-made chips to be used in electronic devices worldwide, underscoring India’s aspirations in the semiconductor sector.

Also Read | India’s Semiconductor Mission: Building a Global Hub for Electronics Manufacturing

India’s ‘Three-D Power’ for Semiconductors: Modi highlighted India’s reform-oriented government, robust manufacturing base, and tech-savvy market as critical drivers of the country’s semiconductor ambitions.

India as a Semiconductor Powerhouse: Modi positioned India as an attractive destination for semiconductor investments, assuring global investors that India is committed to doing whatever it takes to lead in this sector.

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