PM Modi Proposes India as Reliable Chip Hub to Global Investors

PM Modi Proposes India as Reliable Chip Hub to Global Investors

Prime Minister Narendra Modi rolled out the red carpet to global semiconductor industry executives in an effort to establish India as a ‘trusted partner’ for their supply chains at the SemiconIndia 2023 in Gandhinagar, Gujarat on July 28.

The Prime Minister also announced that technology firms will be given 50 percent financial assistance for setting up semiconductor manufacturing facilities in India. The country has also introduced multiple tax reforms for new manufacturing industry, he said, adding that it is establishing an entire ecosystem for the semiconductor industry to grow. The world needs a trusted and reliable chip supply chain, he said.

For the semiconductor ecosystem, the Government is changing the engineering curriculum. It has identified more than 300 big colleges where courses will be offered on semiconductors, as the country is working on a wide roadmap together with friendly countries. It is expected that in the next five years, the nation will have more than 1 lakh design engineers, PM Modi said.

India recently approved the National Quantum Mission and is going to introduce the Nation Research Foundation Bill in Parliament. The National Quantum Mission aims to seed, nurture and scale up scientific and industrial research and development and create a vibrant and innovative ecosystem in quantum technology.