On Wednesday, Prime Minister Narendra Modi spoke at the SEMICON 2024 conference near the capital, emphasising the significance of supply chain resilience and advocating for more semiconductor production in India. He emphasised the importance of semiconductors in everything from smartphones to electric vehicles and artificial intelligence, saying, “Resilience of the supply chain is critical.”
The pandemic highlighted global supply chain vulnerabilities, particularly in businesses relying on Chinese imports, such as semiconductor manufacturing. PM Modi cited India’s reforming administration, stable regulations, and rising tech-savvy market as ideal circumstances for investing in chip manufacturing.
“We aim to see Indian-made chips in every device around the world. “We are committed to making India a semiconductor powerhouse,” PM Modi said. He explained the “Three-D Power” that is propelling India’s chip manufacturing: reforms, a strong industrial base, and a tech-hungry market.
The Prime Minister announced that over ₹1.5 lakh crore has already been spent on semiconductor production, with other projects in the works. He also emphasised India’s aspiration to become a global leader in electronics manufacturing, to increase the sector’s current worth of $150 billion to more than $500 billion by the end of the decade, potentially creating 60 lakh employment.
