Prime Minister Narendra Modi emphasized on Wednesday that India is the ideal destination for semiconductor manufacturing, offering a comprehensive ecosystem for global players along with ease of doing business and a vast talent pool. Addressing a full house at the ‘Semicon India 2024’ event in Greater Noida, PM Modi remarked, “Chips are never down in India” and invited investors to bet on the country’s growth story.
“Come, invest, and create value,” he urged the audience, assuring them of an integrated ecosystem that supports their growth. “India accounts for 20 percent of the global talent in semiconductor design, and this number is steadily rising. We are also building an 85,000-strong semiconductor workforce, comprising technicians, R&D experts, and designers,” the Prime Minister said.
He highlighted the Rs 1 lakh crore ‘Anusandhan fund’ initiative, designed to support basic research and prototype development, including in the semiconductor sector. This fund aims to drive private-sector-led research and innovation on a commercial scale.
“India offers a reform-oriented government, a robust manufacturing base, and a tech-savvy, aspirational market,” PM Modi stated, reinforcing India’s commitment to becoming a global hub for semiconductor manufacturing.
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To build a strong talent pipeline, the government has committed to training 85,000 engineers and technicians. Over 113 universities, academic institutions, and R&D organizations have been brought on board to contribute to this initiative.
During the event, PM Modi toured the exhibition area and engaged with companies to discuss their progress and innovations in semiconductor solutions.
Earlier, on Tuesday, the Prime Minister met with top CEOs of semiconductor companies, who praised his leadership and vision. They expressed that his efforts have inspired not only India but the entire world.
Executives and representatives from leading semiconductor and tech companies—such as SEMI, Micron, NXP, PSMC, IMEC, Renesas, Tokyo Electron Ltd, Tower, Synopsys, Cadence, Rapidus, Jacobs, JSR, Infineon, Advantest, Teradyne, Applied Materials, Lam Research, Merck, CG Power, and Kaynes Technology—were present at the meeting, underscoring their interest and support for India’s semiconductor ambitions.
