Semicon India 2024: ‘In 21st century India, things are never bad,’ says PM Modi

Semicon India 2024: Prime Minister Narendra Modi on Wednesday announced that India is building a semiconductor workforce of 85,000 technicians, engineers and research and development experts, as part of efforts to strengthen the country’s role in semiconductor design and manufacturing. Modi also revealed plans to set up a Semiconductor Research Centre at the Indian Institute of Space Sciences in collaboration with the Indian Institute of Technology (IIT) to develop advanced and next-generation integrated circuits.

Speaking at the inauguration of SEMICON India 2024, a three-day conference titled “Shaping the Future of Semiconductors,” Modi highlighted the country’s growing contribution to global design, which now stands at 20 percent. “India is focused on preparing its students and professionals for industry,” he said.

This comprehensive strategy, Modi said, comes in the wake of the Union Budget 2023-24 announcement of the National Research Foundation (NRF), supported by an outlay of Rs 1 lakh crore over five years to strengthen research and development (R&D) across sectors. The NRF aims to promote collaboration between industry, academia and government, driving innovation in science, technology and critical areas.

India is the eighth country to host the global semiconductor industry event, which serves as a platform to highlight the country’s ambitious semiconductor strategy, with the aim of positioning the country as a global semiconductor manufacturing hub. Modi highlighted India’s growing importance in the global semiconductor landscape: “In 21st century India, the chips are never down,” he said, adding, “When the chips are down, you can bet on India.”

He highlighted India’s unique potential in this sector, stating, “Our dream is that every device in the world will have a chip made in India.” Modi also highlighted the government’s focus on securing critical minerals for the semiconductor industry and the Critical Minerals Mission to boost domestic production and foreign purchases.

Modi highlighted India’s “3D strength” which includes a reform-oriented government, a growing manufacturing base and an ambitious market aligned with technology trends. With solid policies and support, including 50 per cent financial assistance for semiconductor manufacturing plants and significant commitment from state governments, the Indian semiconductor sector has already attracted over Rs 1.5 lakh crore of investment, he further said.

Referring to global cooperation and the rise of “silicon diplomacy,” Modi highlighted partnerships with countries like Japan, Singapore and the United States. He urged skeptics to question the success of the Digital India mission, saying India has become the world’s second-largest mobile phone manufacturer and is rapidly expanding into the 5G phone market.

Highlighting India’s growing electronics sector, estimated to be worth over $150 billion, Modi outlined plans to grow it to $500 billion and create 6 million jobs by 2030. “Our goal is to have 100 percent of electronics manufacturing in India. India will produce integrated circuits and finished products,” he said.

Modi also reiterated the importance of building a resilient semiconductor supply chain, stating, “Whether it was Covid or war, there was no single industry that was unaffected by supply chain disruptions. India is playing a critical role in building resilience across sectors.”

SEMICON India 2024, ending Friday, will showcase India’s semiconductor policy and vision by bringing together global leaders, companies and industry experts. It will feature top executives from leading semiconductor companies, along with more than 250 exhibitors and 150 speakers.